There’s a “V-Bottom” pattern at the local low, which led to the current upward movement. Finally, bulls faced a resistance at 1.4282, so it’s likely that a correction is coming soon. If the price finds a support at 1.4148, then the market is probable going to rise again towards a resistance area at 1.4305 – 1.4343.
All Moving Average lines has been broken as well as the local downward trend line. Bulls found a resistance at 1.4282, so we’ve got a correction here. It’s likely that we’ll see the market lower. If sellers be stopped somewhere in a support area at 1.4210 – 1.4172, then buyers will have an opportunity to come back and achieve a resistance area at 1.4305 – 1.4347.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
