GBP/USD: 'V-Bottom' pushed price higher

GBP/USD: 'V-Bottom' pushed price higher


The last 'V-Bottom' led to the current upward price movement. The main intraday target is the next resistance at 1.3189 - 1.3216. If a pullback from these levels happens next, we're going to have a bearish correction towards the closest support at 1.3101 - 1.3082.


All the Moving Averages have been broken, so the price is consolidating. It's likely that the market is going to reach the nearest resistance at 1.3189 - 1.3216. Meanwhile, if we see a pullback from this area little later on, bears will probably try to achieve the 55 Moving Average.



Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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