GBP/USD: 'V-Top' led to decline

GBP/USD: 'V-Top' led to decline


The pair has been declining since the last 'V-Top' formed. The main intraday target is the next support at 1.2830 - 1.2803. If a pullback from this area happens next, there'll be an opportunity to have an upward correction in the direction of the closest resistance at 1.2899 - 1.2910.


There's a bearish 'Flag', which led to forming a new local low. Previously, we had a couple of 'V-Top' patterns. In this case, it's likely that the market is going to achieve another support at 1.2830 - 1.2803 in the coming hours. The subsequent pullback from this area could be a departure point for a bullish correction towards the 34 Moving Average.



Latest news

USD/TRY is volatile

USD/TRY formed a bullish gap on the D1. It happened on the increase in the market’s risk aversion.

USD/ZAR: there’s more to come

USD/ZAR is capable of more downside on the ongoing trade optimism and as the market’s view switches to the Federal Reserve’s meeting later this month.

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera