GBP/USD: "Triangle" pattern led to decline

GBP/USD: "Triangle" pattern led to decline


All the Moving Averages have been broken, so the price is declining. It's likely that bears are going to test the nearest support at 1.3656. If a pullback from this level happens little later on, we could have an upward price movement towards the closest resistance at 1.3799 - 1.3835.


The last "Triangle" pattern led to the current decline. Meanwhile, it's likely to have a bullish correction in the short term. However, if we see a pullback from the nearest resistance at 1.3763 - 1.3799, there'll be a moment for another decline.



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