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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: thud of hoofs after the "V-Bottom"

Sergey Logachev

GBP/USD: thud of hoofs after the "V-Bottom"

There’s a “V-Bottom” pattern at the local low, which led to the current upward movement. Finally, bulls faced a resistance at 1.4282, so it’s likely that a correction is coming soon. If the price finds a support at 1.4148, then the market is probable going to rise again towards a resistance area at 1.4305 – 1.4343.

GBP/USD: thud of hoofs after the "V-Bottom"

All Moving Average lines has been broken as well as the local downward trend line. Bulls found a resistance at 1.4282, so we've got a correction here. It's likely that we'll see the market lower. If sellers be stopped somewhere in a support area at 1.4210 – 1.4172, then buyers will have an opportunity to come back and achieve a resistance area at 1.4305 – 1.4347.

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