GBP/USD: bears going to test nearest support

GBP/USD: bears going to test nearest support

2-8-2017-GBP-H4.png

There's a "Triple Top" at the last high. If this pattern confirms, bears are likely going to test the nearest support at 1.3158. Meanwhile, if a pullback from this level happens afterwards, there'll be an opportunity to have another upward price movement towards the next resistance at 1.3234 - 1.3277.

2-8-2017-GBP-H1.png

The price is still consolidating. However, there's a "Triple Top" pattern, which has been confirmed, but bears faced support at 1.2184. So, we could have a local correction during the day. Nevertheless, we should keep an eye on the next support as an intraday bearish target.

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