GBP/USD: 'Triple Top' led to consolidation

GBP/USD: 'Triple Top' led to consolidation


The price is consolidating right after the last 'Triple Bottom' was formed. We're likely going to have a local downward correction soon, but then bulls will probably try to test the 55 Moving Average.


There's a 'V-Bottom', so the price is rising. The main intraday target is the closest resistance at 1.3579 - 1.3606. A pullback from this area could be a departure point for another decline.



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GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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