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

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

2-7-2018-GBP-H4.png

There's a 'V-Top', so the market is declining. It's likely that the pair is going to test the nearest support at 1.3143 - 1.3101 in the coming hours. A pullback from these levels could be a starting point for a bullish price movement towards the next resistance at 1.3203 - 1.3253.

2-7-2018-GBP-H1.png

The last 'Triple Top' pattern has been confirmed, so the price is testing the Moving Averages. At the same time, the pair is likely going to reach the closest support at 1.3126 - 1.3101 soon. If a pullback from this ara forms next, bulls will probably try to test another resistance at 1.3177 - 1.3213.

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