GBP/USD: "Double Bottom" pattern

GBP/USD: "Double Bottom" pattern


The last "Double Bottom" pattern led to the current upward price movement. The main intraday target is the next resistance at 1.4149. Meanwhile, if we see a pullback from this area, there'll be a moment to have a downward correction.


Bulls have broken the last "Pennant" pattern, so the price is rising. It's likely to have a local bearish correction in the coming hours, but the market is likely going to test the nearest resistance at 1.4066 - 1.4100 afterwards.



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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