GBP/USD: support by 34 Moving Average

GBP/USD: support by 34 Moving Average

GBP/USD: support by 34 Moving Average

There's a "Double Top", but bears couldn't move on because of support by the 34 Moving Average. At the same time, we've got a "V-Bottom", so the pair is likely going to test the nearest resistance at 1.2945 - 1.2964. If bulls stop here, we'll have an opportunity to see a correction.

GBP/USD: support by 34 Moving Average

Price is moving up and down along support at 1.2913. Therefore, bulls are likely going to reach resistance at 1.2935 - 1.2952, which could be a departure point for a decline in the direction of support at 1.2900 - 1.2880.

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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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