GBPUSD within sideways track – Analysis - 01-08-2016

The EURUSD pair succeeded to touch our main waited target at 1.1196 and shows sideways trading near this level affected by stochastic negativity, which might force the price to provide more sideways trading until we get enough positive momentum to push the price to breach the mentioned level, which will lead the price to achieve more gains on the short term basis.

PFIZER shares ended Thursday trades lower by (-0.18 point) or (-0.49%) of the previous closure pass 36.45 resistance as the highest recorded price during the weeks before and also to pass the channel’s resistance shown above trying to reach the next resistance 37.35, comes after the price traded below the channel’s bottom line reaching the support level 33.95 that coincided then with the SMA 100 to push the price up again trading within the bullish channel range above 43.65 level, comes after it rose during the previous short trades reaching 34.65 resistance level after facing the channel’s support with the SMA 50.

Google shares ended Thursday’s trading higher by about (4.14 point) or (0.56%) from the previous closure trying to pass 739.00 after passing 719.00 and 685.80 levels, comes after passing the level 685.80, which the price reached after it succeeded to achieve the target of the harmonic pattern shown above, which pushed it to trade higher during the previous trades passing 719.00 and 724.00 levels, where the mentioned price represents the (B) point for the pattern, as the price was able to pass it, to reach the next resistance at 739.00 as the (D) point for the pattern.