GBP/USD: confirmed 'Double Bottom'

GBP/USD: confirmed 'Double Bottom'

22-10-2018-GBP-H4.png

There's a 'Double Bottom', which has been confirmed, so the price is consolidating under the 89 Moving Average. It's likely that the pair is going to test the nearest resistance at 1.3113 - 1.3146 in the short term. A pullback from this area could lead to another decline towards the next support at 1.3047 - 1.3032.

22-10-2018-GBP-H1.png

We've got a 'Flag' pattern, which has been broken. So, after a short break, the market is likely going to test the closest important resistance at 1.3109 - 1.3149. If a pullback from these levels forms next, there'll be time for a bearish price movement in the direction of the last low.

gbp

Similar

Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera