GBP/USD got lost in corridors

GBP/USD got lost in corridors


BUY 1.3445

SL 1.3390

TP1 1.3515 TP2 1.3545 TP3 1.384

On the daily chart, GBP/USD changed consolidation range from 1.3045-1.3320 to 1.3320-1.3525. If the pound exits the current corridor, the odds of triggering AB=CD pattern with a target at 127.2% will increase. On the other hand, a break of support at 1.3320 and the pair’s exit from the uptrend channel will allow bears to expect the pound to go to 88.6% of the “Bat” pattern.  


On H1, a successful test of resistance at 1.3445 and 1.3515 will increase the odds of the uptrend’s resumption.




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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