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GBP/USD: "thorn" overset the bear's plans

Sergey Logachev

GBP/USD: "thorn" overset the bear's plans

The pair has found a support at 1.4052, so currently we've got an upward correction. There's a possible “Thorn” pattern, so a rise is likely going to reach a resistance at 1.4282, but at first the price might test a support at 1.4042 once again.

GBP/USD: "thorn" overset the bear's plans

We’ve got a “V-Bottom” at the last low, which led to the current correction. Previously, the price has faced a support at 1.4052. In the short term the market is likely going to taste a support at 1.4042. If a pullback from this level appears, then buyers will have an opportunity to achieve a resistance area between the level 1.4193 and the 34 Moving Average.

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