There’s a “Double Bottom”, so the price reached the nearest resistance at 1.1793.
Meanwhile, the market is likely going to continue moving up towards the next resistance at 1.1822 – 1.1837.
If a pullback from this area happens, we could have a decline in the direction of the closest support at 1.1793 – 1.1772.
The price is consolidating between the levels 1.1772 – 1.1793. Also, we’ve got a “Pennant” pattern, which has been broken. So, we bulls are likely going to reach the next resistance at 1.1822 – 1.1837 in the coming hours. If we have a pullback from these levels, bears will probably try to deliver a downward correction.
