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

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

31-5-2018-GBP-H4 (2).png

There's a 'V-Bottom', so the market is rising. The main intraday target is the nearest resistance at 1.3380 - 1.3419. A pullback from these levels could be a starting point for a decline in the direction of another support at 1.3266 - 1.3220.

31-5-2018-GBP-H1 (2).png

The 89 Moving Average is acting as resistance. So, it's likely to have a bearish correction in the coming hours. Meanwhile, if a pullback from the closest support at 1.3300 - 1.3292 happens afterwards, there'll be a moment to have a bullish price movement towards the next resistance at 1.3377.



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