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GBP/USD: bearish 'Thorn' pattern
2019-11-11 • Updated
There's a bearish 'Thorn' pattern, so the market is likely going to test the next support area at 1.2913 - 1.2896. However, if a pullback from these levels happens next, there'll be a moment to have an upward correction in the direction of the nearest resistance at 1.2969 - 1.2999.
Bulls have been stopped by the trendline, so we've got a 'V-Top' pattern. The main intraday target is the closest support at 1.2913 - 1.2896. A pullback from this area could lead to a bullish correction to the nearby resistance at 1.2968 - 1.2999.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
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