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: bears broke trend
The pair faced support at 1.2755, so there's a "Double Bottom", which has been confirmed. Nevertheless, bulls couldn't break resistance at 1.2887, which means there's an option to have another decline towards the next support at 1.2816 - 1.2774. If a pullback from these levels happens afterwards, bulls will probably try to test the 55 Moving Average.
We've got a "V-Bottom", so the price is consolidating along the 55 Moving Average. In this case, the market is likely going to decline in the direction of support at 1.2816 - 1.2793. However, if we have a pullback from this area, there'll be a green light for another test of the 55 Moving Average.
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.