There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
GBP/USD: 34 Moving Average acted as resistance
It seems like there's a 'Triple Bottom' pattern. So, the market is likely going to test the nearest resistance at 1.3612 - 1.3656 in the coming hours. Meanwhile, if a pullback from this area happens little later on, there'll be an opportunity to have another decline.
The 34 Moving Average has acted as resistance, so the price is moving sideways. Even so, after a short break, the pair is likely going to achieve the next resistance at 1.3606.
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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