GBP/USD: confirmed "Thorn" pattern

GBP/USD: confirmed "Thorn" pattern

1-8-2017-GBP-H4.png

The price found resistance at 1.3234, so we should keep an eye on the nearest support at 1.3158 as an intraday bearish target. If a pullback from this level arrived afterwards, there'll be an option to have another bullish rally towards the next resistance at 1.3277.

1-8-2017-GBP-H1.png

We've got a "Thorn" pattern, which has been confirmed. So, the pair is likely going to test the closest support at 1.3184 - 1.3175 during the day. Meanwhile, if a pullback from this area happens, bulls will probably try to reach another resistance at 1.3234 - 1.3277.

gbp

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