GBP/USD: bears stopped by the last 'Thorn'

GBP/USD: bears stopped by the last 'Thorn'

23-10-2018-GBP-H4.png

Bears have been stopped by the last 'Thorn' pattern, so we should keep an eye on the nearest resistance at 1.3032 - 1.3047 as an intraday target. If a pullback from these levels forms next, there'll be time for another decline towards the previously tested support at 1.2953 - 1.2930.

23-10-2018-GBP-H1.png

The price dropped because of the 'Pennant' pattern, but we've got a 'Thorn', so there's an opportunity to have a bullish correction. The main intraday target is the nearest important resistance at 1.3032 - 1.3047. This area could be a starting point for a bearish price movement in the direction of the last low.

gbp

Similar

Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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.

Beginner Forex book

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