GBP/USD: "Double Top" stopped bulls

GBP/USD: "Double Top" stopped bulls

Bulls faced a resistance at 1.2945, so we’ve got a “Double Top”, which has been confirmed by the last “Exhaustion Gap”. Therefore, the pair is likely going to decline in the direction of the closest support at 1.2865 – 1.2816. If bears be stopped here, there’ll be an opportunity to have another bullish price movement towards a resistance at 1.2865 – 1.2913.

We’ve got a “Double Top” pattern, which has been confirmed. However, the price faced a support at 1.2900, so bulls are likely going to test the nearest resistance at 1.2935 – 1.2952. If a pullback from this area happens, bears will probably try to reach the closest support at 1.2865 – 1.2844.

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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

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