*Under-construction cup with handle is in play.
*Breakout above 12.45 is required to affirm the classical pattern.
*Momentum and trend indicators are positive, reinforcing our constructive bullish overview.
1-GBPUSD found support again in the right shoulder area.
2-SMA50 is to be taken out clearly.
3-Fischer transform is in a positive mode.
**Longs are preferable, 1.60 eyed once again.
1-Bullish Bat pattern completed at 0.6950.
2-Two connected bullish divergence formed over daily studies.
3- Areas of 0.6950 should hold to keep the bullish attempts valid.
Despite the sharp inclines seen on the GBPUSD pair, but actually, prices have been dominated by a fine Fibonacci rhythmic as seen on the provided eight-hour graph.
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In our previous technical comment of the GBPAUD pair (published on June 12), we have suggested strong upside wave after stabilizing above the psychological level of 2.0000.
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The eight-hour chart of the EURGBP pair shows that, prices have been trapped within a narrow range since the opening of this week.
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The daily graph of the GBPCHF pair, we can see how prices have been trapped between 23.6% and 38.2% Fibonacci levels, while struggle continues around SMA20.
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I wrote on June 04 that, the USDSEK pair was on its way to re-experience the support of 8.17895 due to the negative pressures appeared over daily studies.
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In our previous technical comment for the EURCHF pair, we suggested potential upside actions, but that was in one condition.
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After long time of consolidation, the GBPAUD pair has been able to take out the resistance line which meets the psychological level of 2.0000 as seen on the provided daily chart.
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Wrote yesterday that “Bears charging at strong resistance”, as the EURAUD pair has been stopped by the resistance of 1.48 figure.
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Having a look at the weekly chart of AUDNZD pair, we easily can see how the pair has stabilized above the median line of pitchfork channel as previously anticipated.
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In our previous technical analysis for the NZDUSD pair, we have suggested bearish tendencies based on the negative technical factors appeared over monthly studies.
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