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The 55 Moving Average has acted as support, so there's a 'Hammer' pattern, which led to the current upward price movement. In this case, we should watch the nearest resistance at 1.3519 as the next bullish target. The subsequent pullback from this level could be a starting point for a decline towards the previously tested support at 1.1349 and the Moving Averages.
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
U.S. stocks are seen opening mixed Thursday, pausing around record highs as investors await more fresh news on Covid-19 vaccines and potential fiscal stimulus.
A tentative mood was seen in Asia-Pacific bourses following the flat performance on Wall Street, whilst Chinese Caixin Services PMI printed its second-highest reading in a decade.
The mix of economic reports from Canada and the USA will have a huge impact on the pair! Get ready with us!
GBP/USD is heading for the fifth week of gains. Will the rally up continue or stop?
Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
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