GBP/USD: price consolidating since 'Thorn' formed

GBP/USD: price consolidating since 'Thorn' formed


There's a 'V-Bottom' pattern, so the pair is likely going to test the closest resistance at 1.3344 - 1.3380 and the 34 Moving Average shortly. Meanwhile, a pullback from these levels could be a starting point for a decline towards the next support at 1.3174 - 1.3125.


The price has been consolidating since the last 'Thorn' pattern was formed. The main intraday target is the 89 Moving Average. If a pullback from this line happens next, there'll be a moment to have a decline in the direction of the last low.



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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