GBP/USD: pair declining since 'Double Top' formed

GBP/USD: pair declining since 'Double Top' formed

2019-11-11 • Updated

27-6-2018-GBP-H4.png

There's a 'Double Top', which has been confirmed enough. In this case, we should keep an eye on the nearest support at 1.3177 - 1.3143 as an intraday target. Meanwhile, if we see a pullback from this area next, there'll be time for an upward price movement in the direction of the next resistance at 1.3203 - 1.3220.

27-6-2018-GBP-H1.png

The pair has been declining since the last 'Double Top' was formed. It's likely that the market is going to achieve the previously tested support at 1.3161 - 1.3143. This area could be a starting point for a bullish price movement towards the closest resistance at 1.3192 - 1.3203.

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