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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: "Thorn" made bears come back

Sergey Logachev

GBP/USD: "Thorn" made bears come back

We've got a “Thorn” on the upper resistance zone, which led to the current decline. The market is going to face a support at 1.4117, so if bears won’t have any issues with this level, we should keep an eye on the nearest support at 1.4052. If a pullback happens afterwards, it’ll be a chance to see an upward correction.

GBP/USD: "Thorn" made bears come back

There’s a “Triple Top”, which brought bears to the market. The price faced a support at 1.4140, so an upward correction becomes possible. If the pair gets a resistance at  1.4156 – 1.4170, bears are likely going to deliver a new low. 

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