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GBP/USD: another 'V-Top' pattern
2019-11-11 • Updated
There's another 'V-Top' pattern, so the price is declining. The main intraday target is the next support at 1.2723 - 1.2695. The subsequent pullback from this area could lead to an upward correction towards the closest resistance at 1.2784 - 1.2826.
The last 'Flag' pattern has been broken, so there's a new local low. It's likely that the pair is going to test the nearest support at 1.2723 - 1.2711 shortly. Meanwhile, if a pullback from these levels forms next, there'll be a moment to have a bullish correction in the direction of 1.2784 - 1.2804.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
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