GBP/USD: pound is returning to life

GBP/USD: pound is returning to life


BUY 1.3420

SL 1.3365

TP1 1.3520 TP2 1.3560 TP3 1.3615

On the daily chart, GBP/USD is pulling back towards 23.6%, 38.2% and 50% of the wave CD as the “Shark” is transforming into 5-0. Bulls are trying to return the pair inside the previous consolidation range of 1.3455-1.3615 and trigger “Shakeout-Fakeout” pattern.


On H1, GBP/USD reached the targets of “Three Indians” and 1-2-3. A break of resistance at 1.3420 will increase the risks of the formation of a “Crab” pattern. Its 161.8% target lies near 1.3560. 



Latest news

The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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