GBP/USD: confirmed 'Double Bottom'

GBP/USD: confirmed 'Double Bottom'


There's a 'Double Bottom' pattern, which has been confirmed. In this case, the pair is likely going to reach the previously tested resistance at 1.3193 - 1.3216. If a pullback from this area happens little later on, bears will probably try to achieve the nearest support at 1.3072.


The 89 Moving Average has acted as support, so there's a 'Triple Bottom' pattern. In this case, we should watch the closest resistance at 1.3193 - 1.3216 as an intraday target. The subsequent pullback from these levels could be a starting point for a downward correction.



Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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