GBP/USD: "Triple Bottom" pattern

GBP/USD: "Triple Bottom" pattern

2019-11-11 • Updated

17-8-2017-GBP-H4.png

We've got a "Triple Bottom" pattern, which has been confirmed. It's likely that bears are going to achieve the closest support at 1.2853 in the short term. However, if a pullback from this level happens, bulls will have a green light to reach the nearest resistance at 1.2832 - 1.2951.

17-8-2017-GBP-H1.png

The price is consolidating near the 34 Moving Average. Also, the price faced resistance at 1.2911, so we should keep an eye on the closest support at 1.2853. If we have a pullback from this level, there'll be an opportunity to have a bullish price movement towards the next resistance at 1.2926 - 1.2932.

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