If a reversal occurs near this point, the pair could retrace back to the previous resistance zone, which has now turned into support around the upper 1.2800s. Over the past two weeks, the GBP/USD exchange rate has seen significant gains. At the...
Technical Analysis of Oil After two days of a downward trend for oil, the price started today in a good buying zone as the price started trading within bearish price channels. The price also traded supported by the weekly pivot level, and thus the...
If the downward movement continues, the volume level at 140.62 will become the primary focus, as it is below the current price. If the price reaches this level and accumulation at 140.62 prevents it from falling further, a corrective pullback could...
Hook reversal pattern The hook reversal pattern is a trading signal I often look for in technical analysis, as it can indicate a potential trend reversal. I find that this pattern typically forms after a strong price movement, suggesting the market...
The GBP/USD pair is showing a slight upward trend around the 1.3075 area during the Asian session on Thursday, despite a lack of bullish conviction and remaining within striking distance of the previous day's near-one-month low. The US dollar...