GBP/USD: main intraday target is 55 MA

GBP/USD: main intraday target is 55 MA

30-2-2018-GBP-H4.png

We've got a "Double Top" pattern, which has been confirmed. The main intraday target is the 55 Moving Average. If a pullback from this line happens afterwards, there'll be a moment to have another upward price movement.

30-2-2018-GBP-H1.png

All the Moving Averages have been broken, but there's a "V-Bottom" pattern, so the pair is likely going to reach the nearest resistance at 1.4082. If we have a pullback from this level, bears will probably try to achieve the next support at 1.3915 - 1.3884.

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