GBP/USD: pair declining since triangle was broken

GBP/USD: pair declining since triangle was broken

6-8-2018-GBP-H4.png

The pair has been declining since the triangle's lower side was broken. The main intraday target is the next support at 1.2957 - 1.2932. This area could be a starting point for an upward correction in the direction of the nearest resistance at 1.3032 - 1.3047.

6-8-2018-GBP-H1.png

The market is declining because of the last 'V-Top'. Nevertheless, it's likely to have a bullish correction soon, so we should keep on track the closest resistance at 1.2994 - 1.3015 as an intraday target. If we have a pullback from these levels, bears will probably try to test another support at 1.2957 - 1.2932.

gbp

Similar

GBP/USD: another 'V-Top' pattern

The pair is going to test the nearest support at 1.2684 - 1.2661. In this case, we could have a new local low within the next few hours...

gbp

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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