GBP/USD: price declining because of last 'V-Top'

GBP/USD: price declining because of last 'V-Top'

23-5-2018-GBP-H4 (1).png

The price is declining because of the last 'V-Top' pattern. So, we should keep an eye on the nearest support at 1.3300 - 1.3266 as the next bearish target. A pullback from this area could be a starting point for an upward correction.

23-5-2018-GBP-H1 (1).png

The last 'Pennant' has been broken, so the price is moving down. It's likely that after a short break, the pair is going to reach another support area between the levels 1.3300 - 1.3266.



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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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