Weekly Technical Analysis 23/10/2023

Start your week by identifying the key price levels and trends.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
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US TECH (4 hours)
The US Tech exhibits an overall negative PA near the bottom of 14430, exposing 14250 as part of a wedge pattern. 14900 is seen as a regional high above 14780.

GBP/USD (1 hour)
Bulls rejected the attempt at $1.21, with recent price action suggesting a sideways market between $1.2087 and $1.2212. If prices accelerate past the top, the pair could revisit $1.2261. However, a breakdown might send prices to the measured move target of the complete triangle, paving the way to $1.2050.

USD/CAD (2 hours)
The USD/CAD pair may be about to complete a wedge towards $1.3785m, with price action perhaps reaching $1.38. Falling under the $1.3670 support could invalidate the pattern and open the door to 1.36.