GBP/USD: 'Thorn' pattern stopped bears

GBP/USD: 'Thorn' pattern stopped bears

3-10-2018-GBP-H4.png

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.

3-10-2018-GBP-H1.png

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.

gbp

Similar

Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera