GBP/USD: resistance waiting for bulls

GBP/USD: resistance waiting for bulls


The price is consolidating under the 34 Moving Average, so there's a possible developing "Rising Wedge" pattern. Under this circumstances, bears are likely going to test the nearest support at 1.2738 - 1.2705. If a pullback from this area happens, there'll be an opportunity to have a bullish price movement in the direction of the next resistance at 1.2768 - 1.2793.


There's a consolidation, which is taking place along the Moving Averages, so bulls are likely going to achieve the closest resistance at 1.2804 - 1.2817 in the coming hours. However, if we have a pullback from this area, the pair will probably try to catch support at 1.2738 - 1.2705.



GBP/USD: another 'V-Top' pattern

The pair is going to test the nearest support at 1.2684 - 1.2661. In this case, we could have a new local low within the next few hours...


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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