GBP/USD: main trend is still bullish

GBP/USD: main trend is still bullish


The main trend is still bullish. It's likely that the market is going to test the 34 Moving Average soon. A pullback from this line could be a departure point for a decline in the direction of the next support at 1.3982 - 1.3228.


All the Moving Averages have been broken, but there's a 'Thorn' pattern, so the pair is likely going to test the nearest resistance at 1.4049. If a pullback from this level happens afterwards, there'll be a moment for another decline.



Latest news

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

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