GBP/USD: 55 Moving Average acted as support

GBP/USD: 55 Moving Average acted as support

Information is not investment advice

The 55 Moving Average has acted as support, so there's a 'High Wave' pattern. Also, there's no any reversal pattern so far. In this case, the market is likely going to test the nearest support at 1.3042. If a pullback from this level happens next, bulls will probably try to achieve another resistance at 1.3359.

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Levels for trading USD/CAD

To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).  

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