GBP/USD: the British pound is getting stronger

GBP/USD: the British pound is getting stronger

2019-11-11 • Updated

Recommendation:

BUY 1.3190

SL 1.3135

TP1 1.3290 TP2 1.3315 TP3 1.3525

On the daily chart of GBP/USD, bulls could return the pair to the upper border of the downward channel. If they break it and cross the resistance at 1.3065, the odds of the implementation of AB=CD and “Bat” patterns with 127.2% and 88.6% targets will increase.

gbpusd_d.png

On H1, bears could not pull the price lower the support at 1.283 (23.6% of the previous downward wave). It shows the weakness of the sellers. If the resistances at 1.3135 and 1.2190 are broken, the price will go up. 

gbpusd_60.png

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