We’ve got one more “Thorn”, which led to the current upward correction. The market is likely going to get a support at 1.4117 – 1.4089 once again. If so, bulls will probably try to reach a resistance at 1.4234, which is strengthened by the downtrend line.
There’s a flat in progress on the one-hour chart. We’ve got a support at 1.4120 and a resistance on the Moving Average lines. Therefore, the pair is likely going to rise towards a resistance at 1.4170 – 1.4177. If bulls be stopped here, we should keep en eye on a support at 1.4120 – 1.4089 as the next bearish goal.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
