GBP/USD: bulls are counting on the Indians

GBP/USD: bulls are counting on the Indians

Recommendations:

BUY 1.3295

SL 1.3240

TP1 1.3360 TP2 1.3395 TP3 1.3455

On the daily chart, GBP/USD is showing a sustainable uptrend within the correction to the long-term bullish trend. The closeness of 88.6% target of the “Double top” is increasing the odds of a pullback.

GBP1.png 

On H1 of GBP/USD, a combination of “Three Indians” and 1-2-3 creates grounds for reversal of the downtrend. A break of resistance at 1.3295 will be a signal for bulls to attack and trigger the “Ideal butterfly” pattern with a target at 127.2%.

GBP2.png

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