353
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: bears took full advantage of the "Wedge"

Sergey Logachev

GBP/USD: bears took full advantage of the "Wedge"

The price has faced a resistance at 1.4797, which led to the current decline. Moreover, we’ve got a “Wedge” pattern, so there’s an open door for a downward correction. Therefore, the market is likely going to reach a support at 1.4473 – 1.4458. If a pullback from this area happens, there’ll be an opportunity to see a rise towards a resistance at 1.4667 – 1.4692.

GBP/USD: bears took full advantage of the "Wedge"

The market has been falling down since a resistance at 1.4738 was achieved. Finally, bears faced a support at 1.4538, so there’s a chance for bulls to deliver an upward correction. Anyway, the market is likely going to reach a support at 1.4513 – 1.4473 afterwards. 

GBP
Scroll to top