GBP/USD: Technical analysis 09-03
By :Sergey Logachev || https://fxbazooka.com
The pair was rising yesterday and finally a resistance was found on the 89 Moving Average line, which led to a bearish consolidation. So, the current downward correction is likely going to continue towards a support at 1.4193. If bulls finds a foothold here, the market might resume rising towards a resistance area between the levels 1.4305 – 1.4343.
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| GBP/USD: Technical analysis 09-03 |
There's a “Double Bottom” pattern on the one-hour chart. The price is consolidating between the level 1.4234 and the upper side of downward trend. It’s likely that bears is going to reach a support at 1.4193, but then bulls might try to come back and achieve a resistance at 1.4305 – 1.4347.
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| GBP/USD: Technical analysis 09-03 |
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