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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: technical analysis

Sergey Logachev

GBP/USD: technical analysis

The main trend on the four-hour chart is bearish, but the price has been correcting since Monday. It’s likely to see a downward movement to a support area between the levels 1.3878 - 1.3834, but then the market might start rising towards a resistance area at 1.3958 – 1.4042.

GBP/USD: technical analysis

There's a local downward trend on the one-hour chart. Yesterday a “Pennant” pattern was ended and a “V-Top” arrived afterwards. It's likely that the pair will go higher to a resistance at 1.4018. However, the price might form a pullback from the trend line and go to a new downward movement to a support area between the levels 1.3878 – 1.3834.

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