GBP/USD: bullish "Thorn" pattern

GBP/USD: bullish "Thorn" pattern

2019-11-11 • Updated

14-7-2017-GBP-H4.png

We've got a pullback from the Moving Averages and a bullish "Thorn" pattern, so the price is rising. The main intraday target is resistance at 1.2982 - 1.3006, so if we see a pullback from this area, there'll be an opportunity to have a bearish correction.

14-7-2017-GBP-H1.png

The price has broken the local downtrend, but bulls faced resistance at 1.2967. Nevertheless, we're likely going to see the price even higher in the short term. In this case, we should keep in mind the closest resistance at 1.2982 - 1.2991 as the next bullish target. If a pullback from these levels happens, bears will have a green light to deliver a local correction.

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