EURGBP is trying to break the range, but it's still in a range from a long time, and in the resistance level of the descending channel 1) Lookout for a reversal towards the uptrend direction or 2) Wait for strong breakout.
AUDCHF hits the support zone which was formerly a resistance level and lower low of the descending channel in the daily timeframe chart. We propose a move up towards the upper zone of the channel
GBPUSD has been ranging in a rectangle since February 2021 and has now broken the resistance of the rectangle. The pair is moving in a bearish direction and it is expected to continue in the direction for sometime before coming for a retest of the breakout or possible entry into the rectangle again.
The pair has formed a descending triangle and the price is currently at the bottom resistance zone of the triangle. This indicates a possible reversal to the resistance line of the descending triangle.
EURCHF has now reached the low level in both Ascending and Descending Channels in the daily timeframe chart. Our technical indicator "Stochastic" is also in the oversold zone.
GBPUSD - DAILY TIMEFRAME CHART ANALYSIS 1) GBPUSD is moving in an uptrend channel and has formed DOUBLE TOP after the trend failed to make a higher high that a previous fakeout. 2) The trend has broken the lower line of the channel and has retested the previous low to form a support zone. 3) The trend in the accumulation stage for a possible downtrend if it...