GBP/USD: 'Double Bottom' pushing price higher

GBP/USD: 'Double Bottom' pushing price higher

23-1-2019-GBP-H4.png

There's a 'Double Bottom' pattern, so the pair is moving up. The main intraday target is the next resistance area at 1.3013 - 1.3032. Meanwhile, if a pullback from these levels happens next, bears will probably try to reach the closest support at 1.2927.

23-1-2019-GBP-H1.png

It's likely that there's a 'Flag' pattern. In this case, we should keep an eye on the nearest support at 1.2930 as a possible departure point for another advance. Thus, the subsequent pullback from this level in the coming hours could lead to a bullish price movement towards the last high.

gbp

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