The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...
GBP/USD: "V-Bottom" pattern
Bears faced support at 1.3087, so there's a "V-Bottom" pattern, which pushed the price higher. Nevertheless, if the 34 Moving Average acts as resistance, there'll be an opportunity to have a decline towards the nearest support at 1.3087 - 1.3069. This area could be a departure point for another bullish price movement.
There's a "V-Bottom" pattern, which led to the current upward price movement. The main intraday target is the nearest resistance at 1.3150. Meanwhile, if we have a pullback from this level, bears will have a green light to test the closest support at 1.3085 afterwards.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.