GBP/USD: "Thorn" pattern

The price is still consolidating near the Moving Averages. It seems like the pair is going to test the nearest support area at 1.2891 - 1.2877. However, if a pullback from these levels arrives later on, there'll be an option to have a bullish price movement towards the closest resistance at 1.2958 - 1.2989.

There's a "Thorn" pattern, so the price is consolidating. Therefore, the pair is likely going to test the 89 Moving Average. If a pullback from this line happens, bulls will have a green light to achieve another resistance at 1.2942 - 1.2958.

gbp

Sergey Logachev

Similar

19.04.2019 12:34 USD/CAD: 55 Moving Average acting as support

There's a bullish 'Hammer', which has been confirmed by the following 'Three Methods' pattern. In this case...

cad

19.04.2019 08:55 USD/CHF: price to test nearest support

The market has been rising since the last 'Pennant' pattern formed. However, there's a 'V-Top' pattern, which has been confirmed...

chf

18.04.2019 12:17 GBP/USD: 144 MA acting as resistance

There're bearish patterns such a 'Shooting Star' and an 'Engulfing', which both have been confirmed...

gbp

Latest news

08.08.2018 14:30 EUR/USD: local 'V-Top' pattern

The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...

eur

17.01.2018 08:12 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.

gbp