GBP/USD: "Double Bottom" pattern

GBP/USD: "Double Bottom" pattern

26-3-2018-GBP-H4.png

There's a "Double Bottom" pattern, so the market is likely going to reach another resistance at 1.4217 - 1.4277 in the short term. If we have a pullback from these levels, there'll be an opportunity to have a bearish correction.

26-3-2018-GBP-H1.png

The 34 Moving Average has acted as support. In this case, we should keep an eye on the next resistance at 1.4233 - 1.4277 as an intraday target. A pullback from this level could be a starting point for a decline.

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