GBP/USD: 4-hour
Who’s up to trade a potential reversal? GBP/USD seems to be forming a double bottom pattern on its 4-hour forex chart, hinting that the recent downtrend is already over. The pair has yet to break past the neckline around the 1.5250 minor psychological resistance before confirming the potential reversal, but it seems that stochastic is suggesting another move lower. If pound bears take control, GBP/USD could move back to the previous lows and form another bottom around the 1.5000 major psychological handle.
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