GBP/USD: confirmed "Thorn" pattern

GBP/USD: confirmed "Thorn" pattern

13-7-2017-GBP-H4.png

The price faced support at 1.2817, so there's a "Thorn" pattern, which has been confirmed. Therefore, the pair is likely going to continue moving up in the direction of the next resistance at 1.2947 - 1.2982. Meanwhile, if a pullback from this area happens, there'll be an option to have a downward price movement towards support at 1.2926 - 1.2887.

13-7-2017-GBP-H1.png

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 keep in mind the next resistance at 1.2947 - 1.2967 as an intraday target. If we see a pullback from these levels, bears will have a green light to reach the 89 Moving Average.

gbp

Similar

EUR/USD: bearish 'Harami'

The pair is likely going to test the 34 & 55 Moving Averages in the short term. A pullback from these lines could be a departure point...

eur

Popular

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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

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