GBP/USD: confirmed "Double Top"

GBP/USD: confirmed "Double Top"

4-7-2017-GBP-H4.png

There's a "Double Top", which has been confirmed, so bears found support at 1.2926. Therefore, the pair is likely going to decline in the direction of the nearest support at 1.2887. However, if a pullback from this level happens, bulls will probably try to achieve the next resistance at 1.2964 - 1.2976.

4-7-2017-GBP-H1.png

The price is consolidating between the 34 & 55 Moving Averages. So, bulls are likely going to reach the closest resistance at 1.2964 - 1.2976. If we have a pullback from this area, there'll be an option to have another decline towards support at 1.2926 - 1.2915.

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