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GBP/USD: "V-Top" pattern
2019-11-11 • Updated
The price faced resistance at 1.2913, so we've got a "V-Top" pattern, which pushed the price lower. Therefore, the market is likely going to decline in the direction of the nearest support at 1.2816 - 1.2793. If we see a pullback from this area, there'll be a chance to have bullish price movement in the direction of the next resistance at 1.2913 - 1.2945.
Bulls found resistance at 1.2932, which led to forming a "V-Top" pattern. So, the pair is likely going to test the closest support at 1.2816 - 1.2793. If a pullback from these levels happens, there'll be a green light for another bullish rally towards resistance at 1.2905 - 1.2935.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
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