GBP/USD: "Thorn" pattern

GBP/USD: "Thorn" pattern

28-2-2018-GBP-H4.png

There's a "Thorn" pattern, so the market is likely going to test the nearest resistance at 1.3979 - 1.4011. This area could be a departure point for a downward price movement in the direction of the next support at 1.3835.

28-2-2018-GBP-H1.png

We've got a local "V-Top", so there's a moment to have a local bearish correction. Anyway, bulls are likely going to achieve another resistance at 1.3958 - 1.3979 afterwards.

gbp

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