GBP/USD: bears going to achieve closest support

GBP/USD: bears going to achieve closest support

17-7-2017-GBP-H4.png

The price found resistance at 1.3119, so we've got a "V-Top" pattern, which set up a bearish correction. The main intraday target is the nearest support at 1.3057 - 1.2032. However, if we see a pullback from this area, we should keep in mind the next resistance at 1.3184 as a bullish goal.

17-7-2017-GBP-H1.png

We've got a "Double Top" pattern, which has been confirmed. So, bears are likely going to achieve the closest support at 1.3057 - 1.3032 during the day. At the same time, if a pullback from these levels happens, there'll be an option to have a bullish price movement towards resistance at 1.3119.

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