GBP/USD: confirmed 'Double Top'

GBP/USD: confirmed 'Double Top'

17-12-2018-GBP-H4.png

There's a 'Double Top', which has been confirmed, but the price faced support at 1.2514. In this case, the market is likely going to reach the nearest resistance at 1.2634 - 1.2658. The subsequent pullback from this area could lead to a decline towards the previously tested support at 1.2514.

17-12-2018-GBP-H1.png

The price is rising because of the last 'V-Bottom' pattern. Meanwhile, if a pullback from the closest support at 1.2562 happens little later on, there'll be a green light for another bullish rally. Thus, we should keep an eye on another resistance at 1.2634 - 1.2658 as an intraday target.

gbp

Similar

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera