GBP/USD: "V-Bottom" led to a new high

GBP/USD: "V-Bottom" led to a new high

28-11-2017-GBP-H4.png

The 55 Moving Average has acted as support, so there's a bullish "Thorn" pattern. The main intraday target is the next resistance at 1.3382 - 1.3408. This area could be a departure point for a decline towards the nearest support at 1.3320 - 1.3298.

28-11-2017-GBP-H1.png

We've got a "V-Bottom" pattern, which led to forming a new local high. So, we're likely going to have a local downward correction in the coming hours. If a pullback from the closest support at 1.3336 happens afterwards, bulls will try to deliver another rally.

gbp

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