Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: price declining because of 'V-Top' pattern
The price is still consolidating under the Moving Averages. The main intraday target is the next support at 1.3380. However, if a pullback from this level forms afterwards, bulls will probably try to test the nearest resistance at 1.3493 - 1.3549.
The market is declining because of the last 'V-Top' pattern. It's likely that the pair is going to achieve the closest support at 1.3396 - 1.3380 soon. A pullback from this area could be a starting point for a correction.
Sergey Logachev
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