GBP/USD: pair to test the nearest support

GBP/USD: pair to test the nearest support

10-1-2019-GBP-H4.png

There's a 'V-Top' pattern, so the pair is likely going to test the nearest support at 1.2706 - 1.2695 in the coming hours. If a pullback from this area happens next, there'll be a moment for another bullish price movement, so we should watch the next resistance at 1.2796 - 1.2814 as an intraday target.

10-1-2019-GBP-H1.png

We've got a local 'Triple Top' pattern, so the price is declining. It's likely that the pair is going to achieve the previously tested support at 1.2706 - 1.2695. The subsequent pullback from these levels could be a starting point for another advance.

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