GBP/USD: pair to test the next resistance

GBP/USD: pair to test the next resistance

2019-11-11 • Updated

1-2-2019-GBP-H4.png

The market is consolidating between the levels 1.3072 - 1.3174. Also, there's a 'Double Bottom' pattern, which has been confirmed. Therefore, we should keep an eye on the next resistance at 1.3193 as an intraday target. If a pullback from this level happens next, bears will probably try to reach the closest support at 1.3047 - 1.3032.

1-2-2019-GBP-H1.png

There's a 'Thorn' pattern, which has been formed above the 89 Moving Average. Thus, the pair is likely going to achieve the nearest resistance at 1.3174 - 1.3199. The subsequent pullback from this area could lead to a decline towards the last low.

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