GBP/USD: "Thorn" pattern

Read the article on FBS website

31-8-2017-GBP-H4.png

The price is still consolidating near the Moving Averages. It seems like the pair is going to test the nearest support area at 1.2891 - 1.2877. However, if a pullback from these levels arrives later on, there'll be an option to have a bullish price movement towards the closest resistance at 1.2958 - 1.2989.

31-8-2017-GBP-H1.png

There's a "Thorn" pattern, so the price is consolidating. Therefore, the pair is likely going to test the 89 Moving Average. If a pullback from this line happens, bulls will have a green light to achieve another resistance at 1.2942 - 1.2958.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.