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GBP/USD: consolidation between the "Thorns"

Sergey Logachev

GBP/USD: consolidation between the "Thorns"

We’ve got a local “V-Top” pattern, which led to a decline towards a support at 1.4170. The market is likely going to reach the next support at 1.4052. If bears be stopped here, there’ll be a chance to see an upward movement in the direction of a resistance at 1.4117 – 1.4194.

GBP/USD: consolidation between the "Thorns"

As we can see on the one-hour chart, the price faced a support at 1.4170. Currently, there’s a local consolidation in progress. Therefore, the pair is likely going to achieve a support at 1.4120 – 1.4089. In case of a pullback from this area, bulls will have an opportunity to reach a resistance at 1.4120 – 1.4150.

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