GBP/USD: two 'V-Bottom' patterns in a row

GBP/USD: two 'V-Bottom' patterns in a row


The pair is consolidating under the local downtrend line. The main intraday target is the next support at 1.3493 - 1.3457. If we have a pullback from this area, bulls will probably try to deliver an upward correction.


There're two 'V-Bottom' patterns in a row, so the market is likely going to test the 55 Moving Average in the coming hours. If this line acts as resistance, there'll be a moment to have another decline.



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