GBP/USD: bullish "Thorn"

GBP/USD: bullish "Thorn"

9-8-2017-GBP-H4.png

We've got a "Thorn" pattern, so the price reached the 89 Moving Average. There's time for correction, so we should keep an eye on the 34 MA as a bullish target. If a pullback from this line happens, we could have just another decline towards the next support at 1.2932.

9-8-2017-GBP-H1.png

There's a "Double Bottom", so the price is rising. The main intraday target is the nearest resistance at 1.3069 and the 55 MA. If we have a pullback from these levels, bears are likely going to deliver a new local low.

gbp

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