GBP/USD: "V-Bottom" led to a new high
Read the article on FBS website
The 55 Moving Average has acted as support, so there's a bullish "Thorn" pattern. The main intraday target is the next resistance at 1.3382 - 1.3408. This area could be a departure point for a decline towards the nearest support at 1.3320 - 1.3298.
We've got a "V-Bottom" pattern, which led to forming a new local high. So, we're likely going to have a local downward correction in the coming hours. If a pullback from the closest support at 1.3336 happens afterwards, bulls will try to deliver another rally.