There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
GBP/USD: all Moving Averages have been broken
The main trend is still bullish, but the last 'Thorn' pattern led the current decline. So, the pair is likely going to test the closest support at 1.4144 - 1.4119, which could be a starting point for an upward price movement in the direction of the nearest resistance at 1.4243 - 1.4262.
All the Moving Averages have been broken. The main bearish target is the next support at 1.4144 - 1.4119. If a pullback from these levels happens little later on, there'll be an opportunity to have a bullish price movement towards another resistance at 1.4230 - 1.4243.
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