GBP/USD: developing "Triangle"

GBP/USD: developing "Triangle"


The price is consolidating near the 89 Moving Average. Also, there are two bullish "Thorn" patterns in a row, so the pair is likely going to test the closest resistance at 1.3032 - 1.3047 in the coming hours. If a pullback from these levels happens little later on, there'll be an option to have a downward price movement towards the next support at 1.2982 - 1.2951.


We've got a "Triangle", so the price is likely going to test the lower side of this pattern in the short term. If a pullback from this level is on the table, bulls will probably try to achieve the nearest resistance at 1.3032 - 1.3047 shortly.



GBP/USD: another 'V-Top' pattern

The pair is going to test the nearest support at 1.2684 - 1.2661. In this case, we could have a new local low within the next few hours...


Latest news

GBP/USD: confirmed "Thorn" pattern

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...


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