GBP/USD: "Double Bottom" pattern

GBP/USD: "Double Bottom" pattern

2-3-2018-GBP-H4.png

There's a "V-Bottom" pattern, so the pair is likely going to reach the closest resistance area at 1.3856 - 1.3915. If a pullback from these levels happens afterwards, we could have a decline in the direction of the next support at 1.3741 - 1.3711.

2-3-2018-GBP-H1.png

Bears faced with support at 1.3692, so there's a "Double Bottom" pattern. In this case, the price is likely going to achieve the nearest resistance at 1.3856 - 1.3875. Meanwhile, this area could be a departure point for a decline towards another support at 1.3741 - 1.3692.

gbp

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