GBP/USD: "Double Bottom" pattern

GBP/USD: "Double Bottom" pattern

15-2-2018-GBP-H4.png

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.

15-2-2018-GBP-H1.png

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.

gbp

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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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