Head AND Shoulders

GBP/USD has moved lower after failed attempts to extend its rally, putting attention on whether sellers can keep control below recently lost levels. The pair remains vulnerable if resistance holds, but nearby support means the short case may require patience.

AUD/USD remains above the 0.7000 psychological level after a disorderly rebound from late June, supported by relative Australian Dollar strength. Technical traders are watching 0.7027, 0.7042 and 0.6364 as potential trigger levels for the next directional move.

AUD/USD has climbed since late June, helped by relative Australian dollar strength after an earlier US dollar-led slide. Technical traders are watching whether resistance near 0.7027 and 0.7042 caps the move or a deeper reversal develops toward 0.6364.

Nokia’s weekly chart is pointing to lower support after a head and shoulders breakdown and a drop below the 50-day moving average. Traders are now watching whether the stock holds near $10.81 or extends toward deeper downside targets.