The chart hasn’t confirmed further fall of the pair. At the moment the rising expansion pattern still remains in effect. The price is testing the line of the rising trend. One can try to buy the pair with the stop below the local minimum and the target in the area of 1.2955.
Pound, as expected, hit the resistance level and continued to fall. Currently we can see “head & shoulders” reversal forex online pattern forming. One can start buying Pound from “shoulder” level and increase the amount of long positions after the neckline is broken.
Canadian Dollar has formed the descending pattern with the target in the area of 1.0236. We also have “flag” formed, the pattern of continuous trend, at shorter periods of time. One can try to sell with the stop above 1.0395.
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.