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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: "Breakaway Gap" arrived

GBP/USD: "Breakaway Gap" arrived

The price faced a resistance at 1.3022 last week, which led to form “Breakaway Gap” this morning. However, there’s a local bullish “V-Bottom” pattern, so the pair is likely going to reach the nearest resistance at 1.2979 – 1.2995. If a pullback from this area happens, there’ll be an opportunity to see a bearish price movement in the direction of the next support at 1.2913.

GBP/USD: "Breakaway Gap" arrived

We’ve got a local “Double Bottom”, so the market is likely going to achieve the 55 Moving Average in the short term. At the same time, if a pullback from this line happens, bears will probably try to deliver another decline towards a support at 1.2893.

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