The price faced a support at 1.3995, which led to form a “V-Bottom” pattern. Therefore, the market is likely going to get a support at 1.4117 in the short term. If so, a rise towards a resistance at 1.4170 – 1.4194 becomes possible.
We’ve got a “V-Bottom” pattern at the last low and an upward movement afterwards. The pair got a resistance at 1.4170, so there’s the local downwards correction is in progress. If the price finds a support at 1.4056, then bulls will have an opportunity to reach a resistance at 1.4190.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
