GBP/USD: "Double Top" pattern

GBP/USD: "Double Top" pattern

1-11-2017-GBP-H4.png

All the Moving Averages have been broken, but bulls faced with resistance at 1.3311, so the price is consolidating. In this case, the 89 Moving Average is likely going to act as support. If so, there'll be an opportunity to have another upward price movement towards another resistance at 1.3336 - 1.3370.

1-11-2017-GBP-H1.png

There's a "Double Top" pattern, so the pair is likely going to get support on the 34 Moving Average during the day. If a pullback from this line happens little later on, bulls will probably try to reach the next resistance area at 1.3311 - 1.3336.

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