GBP/USD: market will rise even higher

GBP/USD: market will rise even higher

27-7-2017-GBP-H4.png

The price has achieved resistance at 1.3137. If a pullback from this level happens, bears are likely going to test the nearest support at 1.3116 - 1.3082. However, the market will probably rise even higher, so we should keep in mind the next resistance at 1.3184 - 1.3234 as an intraday target.

27-7-2017-GBP-H1.png

There's a "V-Top" pattern, which led to the current consolidation. Therefore, the pair is likely going to decline towards the closest support at 1.3105 - 1.3082. If we see a pullback from these levels, there'll be an option to have a local upward price movement in the direction of the next resistance at 1.3156 - 1.3184.

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