GBP/USD: the pound is moving down
On the daily chart of GBP/USD, bears managed to break the support at 1.27 and move the pair out of the triangle.
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.
Anastasia Mileshkina
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