XAU/USD
As we can see in the H4 chart, after finishing the correction within the rising tendency and forming another "Hammer" pattern not far from the support area, XAU/USD may reverse and form one more slight correction, which may be followed by further decline. In this case, the downside target will be the support area at 1850.00. At the same time, an opposite scenario implies that the price may start another growth with the target at 1920.00.
NZD/USD
As we can see in the H4 chart, the correction continues. After forming several reversal patterns, such as "Hanging Man", not far from the channel’s upside border, NZD/USD is still reversing and moving towards the channel’s downside border. The downside target may be the support area at 0.6580. Still, an alternative scenario says that the pair may continue trading upwards to reach 0.6680 without testing the channel’s downside border.
GBP/USD
As we can see in the H4 chart, the correction within the ascending tendency continues. By now, GBP/USD has formed several reversal patterns, such as "Hammer", not far from the support area. At the moment, the pair is not expected to reverse but may continue falling instead; the downside target is at 1.2835. After testing the support area, the asset may rebound and resume the rising tendency. In this case, the upside target will be the resistance area at 1.3070.
Disclaimer: Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.