GBP/USD V Trend Line Pattern Might Spike the Price Up
The GBP/USD has formed a fresh zig-zag after the retracement and ascending trend lines have been broken. The price could bounce from 1.2740 zone now.
A bounce from the 1.2735-45 targets 1.2765, 1.2805 and eventually 1.2830. From the intraday perspective T-89 patterns with a clear confluence call for a long trade. V trend line pattern has been formed and usually it proceeds with a clear bounce from a POC zone. In case you don’t know what a V trend line pattern is, it’s my proprietary name for the pattern on the chart. It consists of 2 trend lines (retracement trend line that has been broken and a new ascending one that has been formed) within a clear POC zone.