There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
GBP/USD: price declining under Moving Averages
The price is still declining under the Moving Averages. The main intraday target is the next support at 1.3380 - 1.3344. A pullback from these levels could be a starting point for a bullish correction.
The market has been declining since the last 'Double Top' was formed. It's likely that the pair is going to reach the closest support at 1.3380 - 1.3344. Meanwhile, if a pullback from this area forms little later on, there'll be a moment to have an upward correction in the direction of the Moving Averages.
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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