GBP/USD: "Double Bottom" pattern

GBP/USD: "Double Bottom" pattern


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.


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/CAD targeting lower levels

It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1…


Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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