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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

GBP/USD: local "Triple Bottom" led to bullish correction

GBP/USD: local "Triple Bottom" led to bullish correction

There’s a “Triple Bottom” pattern, which led to the current consolidation. So, the market is likely going to get a resistance at 1.3183 – 1.3209 in the short term. At the same time, bears will probably try to reach a support at 1.3092 – 1.3056 later on.

GBP/USD: local "Triple Bottom" led to bullish correction

We’ve got a “Triple Bottom” on the one-hour chart as well. Therefore, bulls are likely going to test a resistance at 1.3183 – 1.3209 soon. However, if a pullback from this levels happens, there’ll be a chance to have a downward movement in the direction of a support at 1.3092 – 1.3069. 

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