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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: "Double Bottom" led to local correction

GBP/USD: "Double Bottom" led to local correction

The price found a support at 1.3277, which led to the last upward movement. However, we’ve got a “V-Top” pattern, so the market is likely going to achieve the next support at 1.3247, which is strengthened by the uptrend. If we see a pullback from this level, then another upward movement becomes possible.

GBP/USD: "Double Bottom" led to local correction

The 89 Moving Average has acted as a support on the one-hour chart. Also, there’s a possible “Double Bottom” pattern, so the price is likely going to get a resistance at 1.3374 -1.3396 during the day. Meanwhile, if we get a pullback from these levels, there’ll an open door for a decline toward the nearest support at 1.3251.

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