GBP/USD: bearish "Thorn" pattern

GBP/USD: bearish "Thorn" pattern

24-7-2017-GBP-H4.png

There's a consolidation, which is taking place near the 55 Moving Average. The main intraday target is the nearest resistance at 1.3057 - 1.3077. If a pullback from this area happens, there'll be an opportunity to have a decline towards support at 1.3006 - 1.2982.

24-7-2017-GBP-H1.png

We've got a bearish "Thorn" pattern, so the pair is likely going to test the 89 Moving Average. However, if a pullback from this line happens, bulls will have a green light to achieve the next resistance at 1.3057 - 1.3047.

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