GBP/USD: 'Double Bottom' pushing price higher

GBP/USD: 'Double Bottom' pushing price higher


There's a 'Double Bottom', which pushed the price higher. The main intraday target is the next resistance at 1.3032 - 1.3047. If we have a pullback from this area, there'll be an opportunity to have a bearish correction towards the closest support at 1.2911 - 1.2880.


The market is consolidating above the Moving Averages. It's likely that the pair is going to test the nearest support at 1.2880. Meanwhile, if a pullback from this level forms little later on, bulls will probably try to deliver another local high.



Latest news

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

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