There' a "V-Top" pattern, so the pair is likely going to test the closest support at 1.3996 - 1.3979. Meanwhile, if a pullback...
GBP/USD: bearish "Thorn"
There's a consolidation, which is taking place along the 34 Moving Average. In this case, we should keep an eye on support at 1.2945 - 1.2913 as an intraday bearish target. If a pullback from these levels happens, the pair is going to rise in the direction of the next resistance at 1.3057 - 1.3090.
We've got a "Thorn" under resistance at 1.3047, so the price is consolidating. The 55 Moving Average is acting as support. Under this circumstances, bears are likely going to reach the closest support at 1.2913, which could be a departure point for an upward price movement towards resistance at 1.2988 - 1.3023.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.