GBP/USD: 'V-Bottom' pattern

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3-5-2018-GBP-H4.png

There's a 'V-Bottom' pattern, so the market is likely going to test the closest trendline. If a pullback from this level forms little later on, bears will probably try to deliver a new local low.

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The price is rising because of the last 'V-Bottom'. Therefore, the pair is likely going to reach the 55 Moving Average in the coming hours. Meanwhile, if a pullback from this line happens next, there'll be an opportunity to have another decline.

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