GBP/USD: confirmed 'V-Top' pattern

GBP/USD: confirmed 'V-Top' pattern

15-1-2019-GBP-H4.png

There's a 'V-Top' pattern, which has been confirmed, so there's an opportunity to have a local downward correction. In this case, we should keep an eye on the nearest support at 1.2814 - 1.2772. If a pullback from this area happens little later on, bulls will probably try to reach another resistance at 1.2946.

15-1-2019-GBP-H1.png

The market is consolidating under the previously tested resistance at 1.2927. Also, there're bearish patterns such a 'V-Top' and a 'Double Top'. Thus, the pair is likely going to achieve the 89 Moving Average soon. If this line acts as support, there'll be a green light for an upward price movement towards the last high.

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