GBP/USD waiting to test a supply area

GBP/USD waiting to test a supply area

GBP/USD has been recently favored by a weak USD across the marks and now it’s doing a rebound from the low of 1.2772. That move could put the pair on the way to reach the supply zone established between the 1.3077 and 1.3019 levels, at which lies a strong territory for sellers, according to our Fibonacci projections.

RSI indicator remains slightly below the 50 level territory, favoring for a consolidation before any significant move.

GBPUSDmH4.png

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GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

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