GBP/USD: bullish "Thorn"

GBP/USD: bullish "Thorn"


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.


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.



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.


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