GBP/USD: flat near broken trend line

GBP/USD: flat near broken trend line

5-3-2018-GBP-H4 (1).png

There's a consolidation, which is taking place near the broken trend line. It's likely that the pair is going to test the Moving Averages. If a pullback from these lines happens little later on, there'll be a moment to have another decline.

5-3-2018-GBP-H1 (1).png

We've got a "Double Bottom" pattern, so the market is likely going to test the nearest resistance at 1.3856 - 1.3875. However, if we see a pullback from this area, bears will probably try to reach the next support at 1.3741 - 1.3692.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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