GBP/USD: "V-Bottom" set up bullish correction
The pair found a support at 1.3115, so we’ve got a “Double Bottom” pattern here. Considering a resistance at 1.3277, the market is likely going to reach the 89 Moving Average during the day. Nevertheless, if a pullback from this line takes place, bulls will probably try to deliver an upward movement in the direction of the next resistance at 1.3303 – 1.3345.
There’s a “V-Bottom” pattern, which led to a local upward price movement. So, there’s an opportunity to see a bearish correction towards a support at 1.3234 – 1.3209. Meanwhile, if a pullback from these levels be on the table, an achievement of the closest resistance at 1.3277 – 1.3302 becomes possible.