GBP/USD: the pound drew an inside bar

GBP/USD: the pound drew an inside bar


BUY 1.4065

SL 1.401

TP1 1.4165 TP2 1.4225

On the daily chart of GBP/USD, there was a natural pullback after the pair reached the 88.6% target of the subsidiary “Shark” pattern. An inside bar was formed. A break of the resistance at 1.4065 will increase risks of the rally’s continuation to the 88.6% target of the parent “Shark” pattern.


On H1, the formation of the reversal “Three Indians” pattern endangered the implementation of “Wolfe Waves” and “Shark” patterns. To continue the uptrend, bulls need to break the resistance at 1.4065.




Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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