GBP/USD: price is consolidating

GBP/USD: price is consolidating

8-3-2018-GBP-H4 (1).png

Bulls faced with resistance at 1.3915, so the price is consolidating. It's likely that the pair is going to test the nearest trendline, which could act as resistance. If so, there'll be a moment for a bearish correction.

8-3-2018-GBP-H1 (1).png

There's a "Double Bottom", which has been confirmed. Therefore, the price is likely going to test the closest resistance at 1.3928 - 1.3963. If a pullback from this area happens afterwards, we could have a decline in the direction of the 89 MA.

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GBP/USD: confirmed "Thorn" pattern

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