GBP/USD: market going to test next support

GBP/USD: market going to test next support


Bears faced support at 1.2811, so the price is consolidating. Therefore, the market is likely going to test the next support at 1.2793 - 1.2768 in the coming hours. If a pullback from this area happens little later on, bulls will have a green light to reach the nearest resistance at 1.2830 - 1.2853.


The last "Double Top" pattern led to a massive decline. The main intraday target is the closest support 1.2793 - 1.2768. If we have a pullback from these levels, there'll be an option to have a bullish price movement in the direction of the nearest resistance at 1.2831 - 1.2853.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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