Hello traders,
let’s hit them charts:
1. GBP/JPY
We can see a head and shoulder formation on the GBP/JPY pair.
Price has been tumbling down ever since it hit resistance level 168.349, and in the process formed a head a shoulder.
Focusing on the neckline is key. It’s a daily time frame so we may get a confirmation to sell after Thursday’s close of the daily candlestick. If we do get a decent close below the neckline, there is a huge probability that price may hit support level 153.758
2. XAU/USD (GOLD)
Gold is currently resting on an ascending trendline which has held since last year October.
If price closes with a bullish engulfing candlestick on the daily time frame, then there is a huge probability that price will hit resistance level 1870.50, an further proceed to 1911..14
If the ascending trendline fails to hold price, then price may hit support level 1785.44
What say you?
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