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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

We’ve got a local upward trend. The market found a resistance at 1.4234 and a correction was started afterwards. It’s likely to see the price a little bit lower, but if the level 1.4172 acts as a support, the new bullish movement might start towards the support area at 1.4305 – 1.4343.

GBP/USD: technical analysis

As we can see on the one-hour chart, a “Flag” was ended and the price started rising once again, but then bulls faced with a resistance at 1.4234. It’s likely that a decline will go on to a support at 1.4167, but then buyers might come back and try to reach a resistance area near the trend line.

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