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GBP/USD Two Patterns Confirming Bullish Outlook

By:
Nenad Kerkez
Published: Oct 29, 2020, 07:49 UTC

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

Pound

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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.

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About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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