GBP/USD: resistance waiting for bulls

GBP/USD: resistance waiting for bulls


The 55 Moving Average has acted as support, so we've got a "Double Bottom" on this line. Therefore, the pair is likely going to rise towards the closest resistance at 1.2964 - 1.2995. If a pullback from this area happens, we should keep an eye on support near the uptrend as a bearish target.


The last "Double Bottom" has been confirmed, so the price is rising. It seems like bulls are ready to push the market even higher. The main intraday target is resistance at 1.2955 - 1.2964. If buyers stop here, bears will have a chance to some revenge.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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