The price formed a “Double Bottom” pattern, which has been confirmed. Finally, a resistance at 1.4283 was achieved, which led to the current decline. So, the market is likely going to get a support at 1.4170 in the short term. If so, a rise towards a resistance 1.4305 – 1.4342 becomes possible afterwards.
We’ve got a “V-Top”, which made possible the current downward correction. The market is likely going to reach a support at 1.4190 – 1.4170. If we see a pullback from here, bulls will have an opportunity to achieve a resistance area at 1.4285 – 1.4320.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
