GBP/USD: local "V-Top" pattern

GBP/USD: local "V-Top" pattern

19-10-2017-GBP-H4.png

The last "Double Bottom" pushed the price to the nearest resistance at 1.3221. However, there's a local "V-Top", so bears are likely going to test the closest support at 1.3150 in the short term.

19-10-2017-GBP-H1.png

We've got a "Double Top", so the market is likely going to test the next support at 1.3169 - 1.3144 during the day. If a pullback from these levels happens, we could have a decline towards the closest resistance at 1.3240 - 1.3256.

gbp

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