British Pound Bullish Pattern Continues


The British Pound bullish pattern continues, looking for higher gains as Brexit hopes push traders into the bullish camp. What is next? Gain insight into this technical analysis.

18 September, OctaFX – The British pound has risen to its highest trading level in six-weeks against the US dollar after positive Brexit headlines, with EU officials noting that they have agreed to some parts of British PM Theresa May’s Chequers Deal.

British Pound Bullish Pattern Continues

The bullish inverse head and shoulders pattern continues to unfold across the lower time-frames, with the full projection of the pattern extending towards the 1.3300 resistance level.

  • The GBPUSD pair is strongly bullish while trading above the 1.3100 level, key support is found at the 1.3205 and 1.3300 levels.
  • If the GBPUSD pair moves below the 1.3100 level, key support is now found at the 1.3060 and 1.3000 levels.

Disclaimer

This article about was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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