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Currency analyst

GBP/USD: bulls launched the counter attack

On the GBP/USD daily chart, the "bears" managed to fulfill the target at the 1.2965 level which we had defined earlier. Afterwards, there was a reversal. At the present time, there is a final stage of the 5-0 pattern formation.The move towards 38.2% (1.3135), 50% (1.3195) and 61.8% (1.3256) level of the last downward wave can be used for opening short positions.

 

On the GBP/USD hourly chart, quotes are moving towards the upper boundary of the descending trading channel. If "bulls" fail to overcome the diagonal resistance near the 1.3135 mark, or if there is an achievement of the 88.6% target in the "Shark"pattern, it will be the signal for the sales.

Recommendations:

SELL 1,3135 SL 1,3290 TP 1,291

SELL 1,3195 SL 1,325 TP1 1,3065 TP2 1,291

SELL 1,3265 SL 1,332 TP1 1,3135 TP2 1,3065. 

GBP
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