GBP/USD: pair rising since 'Double Bottom' formed

GBP/USD: pair rising since 'Double Bottom' formed


The market has been rising since a 'Double Bottom' was formed. It's likely that the pair is going to reach the closest resistance at 1.3450 - 1.3490 in the coming hours. If a pullback from these levels forms afterwards, bears will probably try to achieve the nearest support at 1.3344.


There's a consolidation, which is taking place under the channel's upper sider. The main intraday target is the closest support at 1.3401 - 1.3380, which could be a departure point for a bullish price movement in the direction of the next resistance at 1.3450 - 1.3473.



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