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GBPUSD Weekly
–Â Â Â Â Â Â Â Â Â Major Support was violated last week, but pair closed above it
–Â Â Â Â Â Â Â Â Â To continue Down it has to decisively break below and stays below
–          On the other hand – if this was a Correction , time wise it might be end of it
–         Cable tends to have sharp turns – so be aware
Supports : 1.25350 , 1.24850 & 1.23850
Resistances : 1.26050 , 1.26500 & 1.27150
XAUUSD 4 HOUR CHART Â Â FIBOS
XAUUSD upside stalling as a better risk tone has eased some of the upside pressure.
Treating the retreat from the high as a retracement, here are FIBOS for 2537-2721 (note 38.2% is also the “:50” level) USING OUR fIBONACCI cALCULATOR
EURUSD 1 HOUR CHART Â MIND THE GAP
As I noted in this articleÂ
Markets tend to factor in the worst and hope for the best. This is certainly true for tariffs as what shape they turn out to be will have an impact on the dollar, bonds and other markets as well.
This was the case to start what is not a normal week due to the upcoming US Thanksgiving Day holiday as seen by the opening week gap higher.
Levels to watch are clear, 1.0449-1.0551.
This suggests a firm break oof 1.0450 would be need to expose the gap while a firm break of 1.0500 would suggest a greater squeeze on shorts.
Looking at this as a retracement, here are FIBOS for 1.0935=1.0332 USING OUR fIBONACCI cALCULATOR
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