GBP/USD: bearish correction on the way

GBP/USD: bearish correction on the way

GBP/USD: bearish correction on the way

We’ve got a “V-Top”, so the price is consolidating. In this case, the pair is likely going to reach the nearest support at 1.2774 – 1.2727 in the short term. If we see a pullback from this area, there’ll be an opportunity to have a new high shortly.

GBP/USD: bearish correction on the way

The price is consolidating between the levels 1.2865 – 1.2774. The 34 Moving Average is likely going to act as a support during the day. If a pullback from this line happens, bulls will have a chance to reach a resistance at 1.2900 – 1.2911.

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