GBP/USD: market plunged because of 'V-Top'

GBP/USD: market plunged because of 'V-Top'

12-11-2018-GBP-H4.png

The market has plunged because of the last 'V-Top' pattern. The main intraday target is the next support at 1.2830 - 1.2796. A pullback from this area could lead to an upward correction towards the nearest resistance at 1.2921 - 1.2953.

12-11-2018-GBP-H1.png

All the Moving Averages have been broken, so the price is declining. It's likely that the pair is going to test the closest important support at 1.2830 - 1.2796 within the next few hours. If a pullback from these levels happens little later on, there'll be a green light for a bullish correction.

gbp

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