GBP/USD: 'V-Bottom' pattern

GBP/USD: 'V-Bottom' pattern

4-12-2018-GBP-H4.png

There's a 'V-Bottom', so the price is consolidating. The main intraday target is the next support at 1.2695 - 1.2684. The following pullback from this area could lead to a bullish correction to 1.2784 - 1.2826.

4-12-2018-GBP-H1.png

The market is consolidating under the Moving Averages. It's likely that the pair is going to test the nearest support at 1.2695 - 1.2684 in the coming hours. Meanwhile, if a pullback from these levels forms little later on, there'll be a moment for an upward price movement to 1.2755.

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