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GBP/USD: technical analysis

Sergey Logachev

GBP/USD: technical analysis

The pair has a local downward trend on the four-hour chart. The price has been formed a “Triangle” and price started falling down afterwards. Despite of the market found a support at 1.3929, the price movement likely is going to be deeper towards a support area between the levels 1.3929 – 1. 3680 until bullish reversal patterns arrives. 

GBP/USD: technical analysis

The market has a local downward trend, which reached a support at 1.3929. The price started rising and there's a possible “Pennant” pattern in progress. It's likely that the pair will go lower to the local downward channel, which can act as a support. However, the price might go to a new upward movement afterwards to a resistance area between the levels 1.3929 – 1.3958.

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