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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: "Triple Bottom" stopped bearish rally

GBP/USD: "Triple Bottom" stopped bearish rally

We’ve got a “V-Bottom” pattern, which led to the current upward movement. Also, the price found a resistance at 1.3226, but bulls are likely going to reach the next resistance at 1.3336. At the same time, if a pullback from this level happens afterwards, bears will probably try to approach a support at 1.3116 – 1.3015.

GBP/USD: "Triple Bottom" stopped bearish rally

There’s a “Triple Bottom”, which brought bulls into the market. The price faced a resistance at 1.3273, so the we’ve got a local consolidation. Therefore, the market is likely going to rise towards a resistance at 1.3273 – 1.3313 in the short term. If a pullback from here arrives, there’ll be an opportunity to see the price lower, so we should keep an eye on a support at 1.3015 – 1.2970 as a possible next bearish target.

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