GBP/USD: local 'V-Top' pattern

GBP/USD: local 'V-Top' pattern


The pair is consolidating between the levels 1.3457 - 1.3612. It seems like there's a 'V-Top' pattern. In this case, the market is likely going to test the next support at 1.3457 - 1.3419 soon.


There's a 'Double Top' pattern, which has been formed on the 89 Moving Average, so the price is declining. The nearest bearish target is the closest support area at 1.3450 - 1.3419.



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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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