Apparently, gold broke through the ascending local channel. The resistance level (1690) in my opinion is strong. Therefore, in order to break through this level, the price needs to roll back. The week ended for America on a good note, so Monday will be bullish for the dollar. So I come to the conclusion that in the short / medium term there will be a decrease.
I assume that this pair will continue to fall to 1.27 / 1.25, since, according to my analysis, the formation of the C wave continues. I think the wave will be in the form of a double or triple zigzag, i.e. complicated.
At the moment, I see the beginning of the formation of the 5th wave, since now the price is at the estimated end of the 4th wave. I am waiting for the price to rise to the upper trend line and there I will go out.
According to my analysis, this pair is now finishing to form the 5th wave, the end of which, according to my calculations, will be around 1.661. At the wave level above, a wave 3 is supposedly formed, which means that the correction will be approximately 38% of the wave itself (1.639).
According to the analysis, this currency pair is now in correction. It is likely that the pound will immediately go up without a pullback to 1.255, since the 5th wave came out weak and bulls are predominant. On the daily chart, correction may have ended. At the bottom, I am waiting for a new 5th wave movement to understand which direction our pair will go globally.
According to my analysis, this currency pair is in the 2nd wave. If the price changes direction in the indicated range (121.8-121.2), then it will be possible to wait for the formation of 3 wave to a level higher or exactly 124.5
According to my analysis, this pair completes the 5th wave and in the near future we can wait for the input signal in the form of a fractal. MFI and MACD showed divergence, which means the end of wave 5 formation and the start of correction. Sample goals are between 38% and 62%.
This currency pair is working out a correction and is now in wave c, which turned out to be the 5th wave formation. I am waiting for a weakening to the marked range, i.e. up to 50-62% Fibonacci global wave