GBP/USD: another 'V-Bottom' pattern

GBP/USD: another 'V-Bottom' pattern


There's another 'V-Bottom' pattern, so the price is consolidating. Even so, we're likely going to have a new local low soon. In this case, we should watch the nearest support at 1.2695 - 1.2661 as an intraday target. The subsequent pullback from this area could lead to an upward correction.


We've got a 'Double Bottom', but the market is moving sideways. It's likely that the pair is going to reach another support at 1.2711 - 1.2695 in the coming hours. If a pullback from this area formes next, there'll be time for a bullish correction.



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