GBP/USD: local 'V-Bottom'

GBP/USD: local 'V-Bottom'

1-6-2018-GBP-H4 (2).png

We've got a local 'V-Bottom', so the pair is likely going to test the 34 Moving Average in the short term. If a pullback from this line arrives little later on, bears will probably try to deliver a new local low.

1-6-2018-GBP-H1 (2).png

The pair is rising because of the last 'V-Bottom' pattern. The main intraday target is the nearest resistance at 1.3363 - 1.3377. So, if we have a pullback from these levels, there'll be time for another bearish rally.



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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