GBP/USD: bulls faced with resistance

GBP/USD: bulls faced with resistance


Bulls faced with resistance at 1.3164, so the market is likely going to decline towards the nearest support at 1.3119 - 1.3083. However, if a pullback from this area happens, we could have an upward price movement in the direction of the closest resistance at 1.3164 - 1.3190.


There's a "Thorn" pattern, which pushed the pair to support at 1.3114. Meanwhile, the price is likely going to reach the next support at 1.3093 - 1.3083, which could be a departure point for a bullish price movement. In this case, we should keep in mind the nearest resistance at 1.3164 - 1.3190 as the next bullish target.



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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