GBPJPY climbed from 126.50ish to 148.38, now consolidating around 38.2 fib level where a triangle has been formed. Descending trend line along with strong support base. It is typical in situations like this for price to break to the downside, however the support at this level looks strong.
Is USD going to follow that H&S pattern and go to the upside up to about 1.32 or will it go to the longer term trendline with horizontal support confluence at 1.28?? I slight skewed to long in the short term, bearish long term.
The AUD/NZD pair is finding support along familiar line. An idea hear is to go long with stop loss placed below support line. Also it appears that a bullish Head and shoulders could be forming on the weekly chart.
The USDCAD pair has reached the top of it's trend channel and now looks like a good time to short the pair as we continue the bearish trend with the price below the 200MA.