Hello traders,
let’s hit them charts:
1. GBP/USD
Though GBP/USD is still bullish, but there is one more road block to cross, before we can authenticate a buy
I don’t see that happening at the close of Thursday’s daily candlestick, so this may be a good setup for next week. What we may see this Friday may be a rejection or consolidation.
A rejection may most likely take price back to the ascending trendline currently acting as a support, and if a consolidation happens, price may most likely remain within the resistance zone as buyers and sellers slug it out into the weekend.
2. GBP/AUD
GBP/AUD partially broke a key resistance zone, revisited the zone, and we can see the 200 MA also serving as a key support zone as the bulls are having a tough time pushing through after what seem to be a breakout just yesterday
If price on the daily time frame closes above the key resistance zone, it would mean the bulls may most likely rule this Friday, and there is a huge possibility that price next resistance zone will be the zone marked green
What say you?
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