GBP/USD: 'Double Top' led to decline

GBP/USD: 'Double Top' led to decline

12-4-2018-GBP-H4.png

The main trend is still bullish, but the pair faced with resistance at 1.4217. So, it's likely that the market is going to test the 55 Moving Average soon. If a pullback from this line happens, it'll be time for a bullish price movement towards the next resistance at 1.4144 - 1.4199.

12-4-2018-GBP-H1.png

There's a 'Double Top', so we're likely going to have a decline in the direction of the closest support at 1.4171. A pullback from this level could be a starting point for an upward price movement towards another resistance at 1.4171 - 1.4199.

gbp

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