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GBP/USD: price reached the "Thorn" once again

Sergey Logachev

GBP/USD: price reached the "Thorn" once again

The price has formed a “Double Top” under the nearest resistance at 1.4426. Considering a confirmation of this pattern, the market is likely going to get a support at 1.4282. If so, a rise becomes possible towards a resistance area at 1.4305 – 1.4343.

GBP/USD: price reached the "Thorn" once again

We’ve got a “Triple Top”, which led to the current decline. The 34 Moving Average acted as a support, so bears currently have time to rest. Anyway, the market is likely going to reach a support at 1.4283. In case of a pullback from this level, bulls will have a chance to achieve a resistance at 1.4307 – 1.4343.

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