Sergey Logachev
Technical Analysis

GBP/USD: "V-Bottom" stopped bears

The price faced a resistance at 1.2269, so we’ve got a “V-Top” pattern, which led to a consolidating between a resistance at 1.2219 and a support at 1.2170. Nevertheless, bulls are likely going to test the nest resistance at 1.2309, which is strengthened by the local downtrend. If a pullback from this level happens, there’ll be an opportunity to have a decline in the direction of a support at 1.2198 – 1.2170.
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