GBP/USD: developing

GBP/USD: developing "Rectangle" pattern

2019-11-11 • Updated

25-9-2017-GBP-H4.png

The price is still consolidating between the levels 1.3652 - 1.3444. It seems like bears are going to test the next support at 1.3479 - 1.3444. However, if a pullback from this area happens later on, bulls will probably try to reach the nearest resistance at 1.3618 - 1.3625.

25-9-2017-GBP-H1.png

There's a possible developing "Rectangle" pattern, so the price is likely going to achieve the nearest support at 1.3444. Meanwhile, if we have a pullback from this level, we could have a bullish correction towards the closest resistance at 1.3618 - 1.3625.

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