There’s a “V-Bottom” pattern, which has been confirmed, so the pair is likely going to test the 55 Moving Average soon. If we have a pullback from this line, bears will probably try to start another decline towards the last low.
Bulls have broken the last “Pennant” pattern, so the price is rising. However, if a pullback from the nearest resistance at 1.3177 – 1.3182 happens afterwards, we could have a decline in the direction of the next support area.
GBP/USD H4
GBP/USD H1
