GBP/USD: Bulls stopped by the last 'Thorn' pattern

2018-10-11 18:03    FBS

GBP/USD: Bulls stopped by the last 'Thorn' pattern Institution Opinions 1

Bulls have been stopped by the last 'Thorn' pattern, so we're likely going to have a decline towards the nearest support at 1.3137. If a pullback from this level happens little later on, there'll be a moment for another bullish price movement towards the next resistance at 1.3277 - 1.3297.

GBP/USD: Bulls stopped by the last 'Thorn' pattern Institution Opinions 2

There's a local 'V-Top' pattern, which has been confirmed. So, we should keep an eye on the closest support at 1.3137 - 1.3124 as an intraday target. This area could be a starting point for an upward price movement to 1.3244 - 1.3277.

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