GBP/USD Two Patterns Confirming Bullish Outlook

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The GBP/USD is showing a V shaped reversal and cup with handle pattern at the same time. The pair is bullish.

Techicals show bullish price action but we should not forget that Brexit uncertainty still hangs in the air. Due to the Brexit headline risk we could see sudden movements in both directions. The POC zone is within 1.2940-65 and a pullback in the zone should awake new buyers. 1h close above 1.3022 suggest continuation towards 1.3062 , 1.3119 and 1.3129. Only below 1.2900 the pair will be bearish.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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