GBP/USD: 'Triple Top' pattern led to gap

GBP/USD: 'Triple Top' pattern led to gap

15-10-2018-GBP-H4.png

There's a 'Triple Top' pattern, which has been confirmed. Also, we've got a gap, but the 55 Moving Average has acted as support. In this case, the market is likely going to test the nearest resistance at 1.3175 in the coming hours. A pullback from this level could lead to another decline.

15-10-2018-GBP-H1.png

The pair has plunged because of the last 'Bull Trap'. Also, there's a 'V-Top' pattern, so the price is likely going to achieve the closest significant resistance at 1.3162 - 1.3175. If a pullback from this area forms little later on, there'll be a moment to have a decline towards 1.3047 - 1.3032.

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