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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: "V-Bottom" set up bullish correction

GBP/USD: "V-Bottom" set up bullish correction

There’s a “V-Bottom” pattern, which led to the last bullish price movement. However, the pair faced a resistance at 1.3119, so the market is likely going to get a support at 1.3015 shortly. If we see a pullback from this level, buyers will probably try to catch the next resistance at 1.3226.

GBP/USD: "V-Bottom" set up bullish correction

We’ve got a “Triple Bottom”, so the price achieved the 55 Moving Average, which acted as a resistance. Therefore, the market is likely going to decline towards a support at 1.3017. Nevertheless, if a pullback from this level happens, bulls will probably try to deliver a new local high.

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