GBP/USD: 'Double Top' points to correction

GBP/USD: 'Double Top' points to correction


There's a 'Double Top' pattern, which has been confirmed, so the market is likely going to test the nearest support at 1.3042 - 1.3032 in the coming hours. If a pullback from this area happens little later on, there'll be time for another upward price movement towards the next resistance at 1.3114 - 1.3146.


We've got a 'Triple Top', which has formed at the last high. The main intraday target is the closest support at 1.2999 - 1.2957. The subsequent pullback from these levels could lead to the beginning of a bullish rally towards 1.3094 - 1.3109.



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