GBP/USD: Pound dreams of revenge

GBP/USD: Pound dreams of revenge

The GBP/USD daily chart, the transformation of the Shark pattern into 5-0 continues. If bulls fail to return to the borders of the upward trading channels. It will be a signal of their weakness and will allow us to sell the pound from the break of support at 1.284 (23.6% of the CD wave). In contrast, a test of the solid resistance at 1.3024 (88.6% of the CD wave) will create prerequisites for the continuation of the rally.

On the GBP/USD hourly chart, the realization of the expanding wedge pattern continues. As long as the quotes are above the supports at 1.284 and 1.278, the Bulls retain their control over the pair.

Recommendations:

SELL 1,284 SL 1,2895 TP1 1,274 TP2 1,264,

BUY 1,3025 SL 1,297 TP 1,3125. 

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