GBP/USD: confirmed 'Triple Top'

GBP/USD: confirmed 'Triple Top'

18-1-2019-GBP-H4.png

There's a 'V-Top' pattern, so there's an opportunity to have a local bearish correction. The main intraday target is the nearest support at 1.2927 - 1.2883. If a pullback from this area happens next, there'll be a moment for another bullish rally towards the next resistance at 1.3032 - 1.3047.

18-1-2019-GBP-H1.png

We've got a 'Triple Top' pattern, which has been confirmed. Thus, there's a moment for a bearish correction, so we should watch the closest support at 1.2857 - 1.2930 as a target. Meanwhile, a pullback from these levels could be a starting point for an upward price movement in the direction of 1.3032 - 1.3047.

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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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