GBP/USD: bullish "Triangle"

GBP/USD: bullish "Triangle"


The price is consolidating between resistance at 1.2913 and the 34 Moving Average. In this case, the pair is likely going to test the nearest resistance at 1.2913 - 1.2945, which could be a departure point for another decline in the direction of the closest support at 1.2887 - 1.2865.


We've got a bullish "Triangle", so we should keep an eye on the next resistance at 1.2935 - 1.2952 as an intraday target. Nevertheless, if a pullback from this area arrives afterwards, we could have a decline towards the 34 Moving Average.



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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