There's a 'V-Bottom' on GBPUSD

There's a 'V-Bottom', so the market is moving up. It's likely that bulls are going to test the nearest important resistance at 1.3143 - 1.3177. This area could be a starting point for a decline towards another support at 1.3101 - 1.3082.

We've got a local 'Head & Shoulders', so the market is rising. The main intraday target is the next resistance at 1.3161 - 1.3177. A pullback from these levels could be a starting point for a decline in the direction of the closest support at 1.3101 - 1.3083.

gbp

Sergey Logachev

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