Hello Traders,
A quick look at our charts for Tuesday…
1. GBP/USD
On the 4 hours chart of the GBP/USD, we can see a pennant formation.
Waiting for price to hit support level 1.28517 and it’s reaction afterward is important.
A breakout will most likely encourage the Bears to pull price down to the next possible support level (1.26936) and a reversal will bounce price back to resistance level 1.29508.
2. AUD/USD
Price on the AUD/USD has an ascending triangle formation.
Price is currently resting on an important support level (0.68788)
A reversal signal will most likely send price back to resistance level 0.69258 and a breakout will encourage the sellers to push price to the next possible support level (0.68105).
Do have a great day ahead fam, and as always…
Stay pip-full
