GBP/USD: local downtrend line broken

GBP/USD: local downtrend line broken


The local downtrend line has been broken. In this case, the pair is likely going to achieve the nearest resistance at 1.3612 - 1.3656, which could be a departure point for a downward price movement in the direction of the closest support at 1.3493 - 1.3457.


The 55 Moving Average has acted as resistance, so there's a local 'V-Top' pattern. Despite that, if we have a pullback from the next support at 3498 - 1.3493 in the coming hours, there'll be a green light for a bullish rally.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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