GBP/USD: main intraday target is 55 MA

GBP/USD: main intraday target is 55 MA


We've got a "Double Top" pattern, which has been confirmed. The main intraday target is the 55 Moving Average. If a pullback from this line happens afterwards, there'll be a moment to have another upward price movement.


All the Moving Averages have been broken, but there's a "V-Bottom" pattern, so the pair is likely going to reach the nearest resistance at 1.4082. If we have a pullback from this level, bears will probably try to achieve the next support at 1.3915 - 1.3884.



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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