GBP/USD: 'Thorn' pattern led to consolidation

GBP/USD: 'Thorn' pattern led to consolidation


There's a 'Thorn' pattern, so the price is consolidating. It's likely that the market is going to test the next support at 1.3457 - 1.3425 soon. A pullback from this area could be a departure point for an upward correction.


The last 'Flag' pattern has been broken, so the price is going to reach the closest support at 1.3457 - 1.3425. Meanwhile, if we see a pullback from this area little later on, there'll be a movement for a bullish correction towards the nearest resistance at 1.3519 - 1.3549.



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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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