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Gold Fights For Breakout; GBP/USD Posts Double Top Formation

Published 08/31/2018, 04:31 AM
Updated 05/14/2017, 06:45 AM


Gold erased the mid-term sell signal that was coming from the breakout of the lower line of the flag and the Head and Shoulders formation. Instead of the, we do have n interesting rise at the beginning of the European session, driven by the smaller wedge pattern. Price closing a day and a week above the green area, will be a strong buy signal.

Cable is about to test the crucial long-term resistance for the second time. As long, as we are below, the sell signal is more probable here. The horizontal resistances is additionally supported by the mid-term down trendline.

FTSE broke the lower line of the wedge and went lower to test the super important horizontal support again. Price closing below the grey area will be a significant signal to open a short position. As long as we stay above, buyers still can have hope.

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