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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: upwards correction is possible because of the "V-Bottom"

GBP/USD: upwards correction is possible because of the "V-Bottom"

The price has found a support at 1.4402, which led to form a “V-Bottom”, so there’s an open door for a bullish correction. Therefore, the market is likely going to get a resistance somewhere between the 89 and 55 Moving Averages. If a pullback from this area happens, bears will probably try to deliver a new low afterwards.

GBP/USD: upwards correction is possible because of the "V-Bottom"

We’ve got a “V-Bottom”, which brought bulls into the market. So, the pair is likely going to achieve the next important resistance at 1.4508 – 1.4513. Considering a possible pullback from this area, there’ll be a chance to see a decline towards the last minimum.

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