GBP/USD: bulls try to restore the trend

GBP/USD: bulls try to restore the trend

On the GBP/USD daily chart, bulls retained the hold of the support at 1.286. The pin bar formation increases the risks of uptrend restoration towards1.307. There is a target 161.8% in the AB = CD. To develop a correction, the bears need to retest the upper boundary of the previous consolidation range (1.277-1.286).

On the GBP/USD hourly chart, after the fulfillment of the Crab pattern, an inverted Shark pattern was formed. Its 61.8% target corresponds to the lower border of the previous consolidation channel 1.2935-1.2975. Once it is fulfilled, the bears regain their strength.  


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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