GBP/USD: 'Thorn' pattern stopped bears

GBP/USD: 'Thorn' pattern stopped bears


There's a 'Thorn' pattern, which has been confirmed, so the market is likely going to test the nearest resistance at 1.3032 - 1.3055 and the Moving Averages. If a pullback from these levels happens little later on, there'll be a moment for a decline towards the next support at 1.2953 - 1.2930.


We've got a local 'V-Top' pattern, so we're likely going to have a local downward correction. In this case, we should watch the nearest support at 1.2982 - 1.2961 as a possible departure point for a bullish price movement in the direction of another resistance at 1.3032 - 1.3047.



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