EUR/USD: confirmed "Double Top" pattern

EUR/USD: confirmed "Double Top" pattern

7-8-2017-EUR-H4.png

We've got a "Double Top" pattern, which has been confirmed. Also, the 34 Moving Average has acted as support, so the price is consolidating. Nevertheless, the pair is likely going to reach the next support at 1.1683 in the short term. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1757 - 1.1801.

7-8-2017-EUR-H1.png

There's a consolidation, which is taking place under resistance at 1.1801. However, bears are likely going to achieve the closest support at 1.1712 - 1.1683 during the day. If a pullback from this area happens, we should keep an eye on resistance at 1.1784 - 1.1801 as an intraday target.

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gbp

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