GBP/USD: local 'V-Top' pattern

GBP/USD: local 'V-Top' pattern


There's a local 'V-Top', so the pair is going to reach the closest support at 1.3177 - 1.3143 soon. At the same time, if a pullback from these levels happens little later on, bulls will probably try to reach another resistance at 1.3203 - 1.3253.


The last 'Pennant' pushed the pair higher. It's likely that the market is going to test the nearest support at 1.3161 - 1.3143 within the next few hours. However, if we see a pullback from this area, there'll be an opportunity to have an upward price movement towards the next resistance at 1.3233 - 1.3253.



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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