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: "Triple Top" did an excellent job

Sergey Logachev

GBP/USD: "Triple Three" did an excellent job

There’s a “Triple Top” pattern, which has been confirmed. Finally, the price faced a resistance near the local up trend, which led to the current decline. It’s likely to see a bullish correction towards the lower side of the nearest resistance area. If a pullback forms afterwards, then a decline will have an opportunity to resume. If so, a support area at 1.4170 – 1.4117 is going to be reached soon.

GBP/USD: "Triple Three" did an excellent job

The price has faced a support at 1.4170, which led to form a “V-Bottom” pattern. The bullish movement is likely going to achieve a resistance area between the 55 Moving Average and the level at 1.4283. Considering a possible pullback somewhere from this area, it's possible that bears are going to taste a support at 1.4117.

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