GBP/USD: bears going to test nearest support

GBP/USD: bears going to test nearest support

2-8-2017-GBP-H4.png

There's a "Triple Top" at the last high. If this pattern confirms, bears are likely going to test the nearest support at 1.3158. Meanwhile, if a pullback from this level happens afterwards, there'll be an opportunity to have another upward price movement towards the next resistance at 1.3234 - 1.3277.

2-8-2017-GBP-H1.png

The price is still consolidating. However, there's a "Triple Top" pattern, which has been confirmed, but bears faced support at 1.2184. So, we could have a local correction during the day. Nevertheless, we should keep an eye on the next support as an intraday bearish target.

gbp

Similar

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera