Breakdown of the support level amid a negative news background for the UK.
Bad news background is not conducive to long positions. Therefore, I am only considering a short position.
A breakthrough of the consolidation upwards with the target in the area of the previous resistance level 12490 is possible.
An upward breakout of the local resistance level, after the statement of the Swiss Central Bank about the too high rate of the Swiss franc and possible interventions, may lead to a rise in the price to the 0.9400 area. On a pullback down, you can buy with a stop below 0.9050.
The bad news background for the UK is not favorable for long positions. Therefore, I am only considering a short position.
The breakdown of the upward support level, after the statement of the Australian Central Bank about the too high rate of the Australian dollar and possible interventions, caused the price to decline to the support level of 0.7080. After an upward rollback, the downward movement can be continued to the next support level around 0.6780.
Perhaps a "head and shoulders" pattern will form. A breakout of the 0.6488 support level may lead to a decline in the price to the 0.6177 area.
The formation of a descending 3W pattern is possible if the resistance level of 557.30 is not broken upwards. To open a short position, a fall in stock indices is also necessary.
NASDAQ was bought in the area of 30% correction of the uptrend. A descending triangle may form, which will be broken with the target level around the previous resistance level of 9760.
The formation of a descending Head and Shoulders pattern is possible.
Consolidation is broken down. The first target level is 1788. Further, the downtrend may continue to the area of the level of 1650.
The formation of a descending 3W pattern is possible if the resistance level of 1575 is not broken upwards.
The downtrend may continue after the breakout of the support level at 13.74. Poor third-quarter performance or the fall in major stock indices may be additional factors in favor of the fall.
Long-term consolidation has been broken down. The company's financial performance leaves much to be desired. The target levels of the downtrend can be the long-term support levels of 21.85, 4.70.
A break of the support at 1.1750 may lead to a decline to the 1.1500 area. Bouncing back up and retesting one of the support levels could change the target level.