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The last 'Double Top' pushed the market lower, so all the Moving Averages have been broken. It seems like there's a developing 'Falling Wedge' pattern. Thus, it's likely that the pair is going to test the nearest resistance at 0.6813 in the coming hours. If a pullback from this level happens little later on, bears will probably try to reach the next support at 0.6789 - 0.6772.
The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
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The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
The aussie is expected to plummet for the next six months. What is the reason?
