GBP/USD: 'Triple Top' led to consolidation

GBP/USD: 'Triple Top' led to consolidation

15-5-2018-GBP-H4.png

The price is consolidating right after the last 'Triple Bottom' was formed. We're likely going to have a local downward correction soon, but then bulls will probably try to test the 55 Moving Average.

15-5-2018-GBP-H1.png

There's a 'V-Bottom', so the price is rising. The main intraday target is the closest resistance at 1.3579 - 1.3606. A pullback from this area could be a departure point for another decline.

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