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EUR/USD: 'Double Top' led to decline

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The market has been declining since the last 'Double Top' was formed. The main intraday target is the next support at 1.1312. If a pullback from this level happens next, there'll be a moment to have an upward correction towards the closest resistance at 1.1425 - 1.1478.

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Bears faced with support at 1.1365, so the pair is consolidating. It's likely that we're going to have a 'Pennant' pattern, so we should keep an eye on another support at 1.1312 as an intraday target. A pullback from this level could be a starting point for a bullish correction.

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