GBP/USD: 'V-Top' pattern led to decline
There's a 'Double Bottom', which has been confirmed, so the price is likely going to test the nearest resistance...
GBP/USD reached buy target 1.4000
- GBP/USD reached buy target 1.4000
- Next buy target - 1.4400
GBP/USD continues to rise after the earlier breakout of the resistance area lying between the round resistance level 1.4000 (previous buy target) and the resistance trendline of the wide daily up channel from June. The breakout of this resistance area accelerated the active impulse waves 3 and (iii) – which belong to the intermediate impulse wave (3) from October. GBP/USD is expected to rise to the next buy target at the next resistance level 1.4400.
Dmitry Chernovolov
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