GBP/USD: 'V-Top' pattern led to decline
There's a 'Double Bottom', which has been confirmed, so the price is likely going to test the nearest resistance...
GBP/USD: "Double Top" pattern
The pound is consolidating along support at 1.2926. Also, there's a "Double Top" pattern, which has been confirmed. In this case, the market is likely going to decline towards the nearest support at 1.2887 - 1.2860. At the same time, if a pullback from this area happens, bulls will have a green light to reach resistance at 1.2964 - 1.2976.
The price is moving up and down between the Moving Averages. It seems like bears are ready to reach the next support at 1.2871 - 1.2860. However, if we see a pullback from these levels, there'll be an opportunity to have an upward price movement towards resistance at 1.2947 - 1.2964.
Sergey Logachev
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