GBP/USD: "V-Bottom" pattern

GBP/USD: "V-Bottom" pattern

23-2-2018-GBP-H4 (1).png

There's a "V-Bottom" pattern, so the market is likely going to reach the nearest resistance at 1.4011 - 1.4066. Meanwhile, if a pullback from this area happens, there'll be a moment for a decline towards the next support at 1.3915 - 1.3835.

23-2-2018-GBP-H1 (1).png

The last "Pennant" pattern pushed the price higher. So, it's likely that the pair is going to achieve the closest resistance at 1.4011 - 1.4048 in the coming hours.

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