GBP/USD: 'Double Top' led to decline

GBP/USD: 'Double Top' led to decline

11-12-2018-GBP-H4.png

The last 'Double Top' led to the current downward price movement. However, there's a 'V-Bottom', so we should watch the nearest resistance at 1.2634 - 1.2661 as an intraday target. This area could be a starting point for another decline in the direction of the next support at 1.2514 - 1.2472.

11-12-2018-GBP-H1.png

There's a 'V-Bottom' pattern, which has been confirmed, so the pair is likely going to test the closest resistance at 1.2634 - 1.2661. If a pullback from this target and the Moving Averages happens little later on, bears will probably try to test another support at 1.2506 - 1.2472.

gbp

Similar

Latest news

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

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