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: bulls going to climb even higher
The last “Pennant” pattern led to a new high. So, the market is likely going to test the nearest resistance at 1.2945 – 1.2995 in the short term. However, if bulls be stopped here, there’ll be an opportunity to have a bearish correction towards a support at 1.2865 – 1.2816.
The price is consolidating under a resistance at 1.2945. It’s likely that bears are going to test the nearest support at 1.2900 – 1.2865. If a pullback from this area happens, there’ll be an option to have another bullish rally in the direction of the next resistance at 1.2935 – 1.2952.
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.