GBP/USD: broken "Triangle"

GBP/USD: broken "Triangle"


Bulls faced resistance at 1.2945, so the pair is likely going to achieve the closest support at 1.2901 in the short term. Meanwhile, if a pullback from this level happens, there'll be an option to have the price higher. In this case, we should keep in mind resistance at 1.2964 - 1.2988 as an intraday target.


The last "Triangle" pattern has been broken, so we've got a new local high. However, the price couldn't go through resistance at 1.2935 - 1.2952, so bears are likely going to test the 34 Moving Average. If we have a pullback from this line, bulls will probably try to test the next resistance at 1.2964.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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