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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 pair was rising yesterday and finally a resistance was found on the 89 Moving Average line, which led to a bearish consolidation. So, the current downward correction is likely going to continue towards a support at 1.4193. If bulls finds a foothold here, the market might resume rising towards a resistance area between the levels 1.4305 – 1.4343.

GBP/USD: technical analysis

There's a “Double Bottom” pattern on the one-hour chart. The price is consolidating between the level 1.4234 and the upper side of downward trend. It’s likely that bears is going to reach a support at 1.4193, but then bulls might try to come back and achieve a resistance at 1.4305 – 1.4347.

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