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

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


There's a 'V-Bottom', which pushed the price higher. Also, we've got a 'Pennant', so the pair is likely going to reach the nearest resistance at 1.3216 - 1.3257. A pullback from this area could be a starting point for a downward correction to 1.3146 - 1.3114.


The last 'Pennant' has been broken, but the market is testing the closest resistance at 1.3193. So, there's an opportunity to have a local correction to 1.3149 - 1.3109. If a pullback from this area happens next, there'll be time for another bullish rally.



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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