FBS - Analytics

    FBS

    561.00 6.00/10
    84% of positive reviews
    Real

    GBP/USD: "Pennant" urge bears to move on

    GBP/USD: "Pennant" urge bears to move on

    The pair has achieved a support at 1.2863, which led to form a “V-Bottom” pattern, so we’ve got a consolidation in progress. Under this circumstances, the market is likely going to rise towards the nearest resistance at 1.3116 – 1.3226. If a pullback from this area arrives afterwards, bears will probably try to get a support at 1.2862, which can bring a new low.

    GBP/USD: "Pennant" urge bears to move on

    We’ve got a “V-Bottom”, so the price reached a resistance at 1.3015. Therefore, the market is likely going to reach the next resistance at 1.3116 – 1.3204 in the short term. However, bears are still in the game, so it’s possible to see the price near the important support at 1.2863 – 1.2795, which is near the main downward trend.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree