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

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


There's a 'V-Bottom', so the market is moving up. It's likely that the 34 Moving Average is going to act as resistance. If so, bears will probably try to deliver another decline.


The pair has been rising since the last 'Double Bottom' formed. The main intraday target is the next resistance at 1.3473 - 1.3490, which could be a starting point for a bearish price movement in the direction of the nearest support at 1.3344 - 1.3330.



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