GBP/USD: price going to test next resistance

GBP/USD: price going to test next resistance

18-12-2017-GBP-H4.png

There's a "V-Bottom" pattern, which has been confirmed. Therefore, the market is likely going to test the nearest resistance area at 1.3386 - 1.3408. These levels could be a departure point for another decline towards the next support at 1.3300 - 1.3278.

18-12-2017-GBP-H1.png

We've got a "Double Bottom", so the price is rising. The main intraday target is the nearest resistance at 1.3386 - 1.3408. Meanwhile, if a pullback from this area happens, bears will probably try to reach another support at 1.3300 - 1.3278.

gbp

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