GBP/USD: 'Thorn' pattern points to correction

GBP/USD: 'Thorn' pattern points to correction

2019-11-11 • Updated

14-11-2018-GBP-H4.png

There's a 'Double Bottom', which led to the current upward price movement. However, we've got a 'Thorn' pattern, so there's a moment to have a downward correction. In this case, we should watch the nearest support at 1.2953 - 1.2930 as an intraday target

14-11-2018-GBP-H1.png

The pair is consolidating above the Moving Averages. Also, there're three 'V-Top' pattern in a row, so the price is likely going to test the closest support at 1.2953 - 1.2930 shortly. The following pullback from this area could lead to another bullish rally.

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