GBP/USD
Analysis:
The general trend rate of the British pound is set by the rising wave from March 18. Its last section started a month ago from the lower limit of strong resistance. Since June 10, the price has been adjusted in the lateral plane.
Forecast:
The sideways flat is expected to continue today. At the next European session, a short-term rise in the price is not excluded, no further than the resistance zone. By the end of the day, the downward vector is likely to resume. If the nearest support zone is breached, the next zone will become the target.
Potential reversal zones
Resistance:
- 1.2610/1.2640
Support:
- 1.2530/1.2500
- 1.2430/1.2400
Recommendations:
Trading the pound in the market today can be risky. Short-term sales are possible within the intraday style. The pair will be of interest for trading after the appearance of upward reversal signals.
AUD/USD
Analysis:
Since March 19, the quotes of the Australian dollar form a wave of daily scale. The wave has a pronounced impulse character. Since the beginning of the current month, the quotes form a horizontal correction. Its structure doesn't look complete.
Forecast:
Today, the price is expected to move in the side corridor between the nearest counter zones. In the European session, short-term growth is possible, no further than the resistance zone. By the end of the day, the probability of a repeat decline increases.
Potential reversal zones
Resistance:
- 0.6900/0.6930
Support:
- 0.6820/0.6790
Recommendations:
Until the correction is complete, trading on the pair's market is impractical. Intraday supporters can make short-term transactions according to the expected sequence.
Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of arrows shows the formed structure, and the dotted ones show the expected movements.
Note: The wave algorithm does not take into account the duration of the tool movements in time!
