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

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

7-11-2018-GBP-H4.png

There's a 'V-Top' pattern, so the pair is likely going to achieve the closest support at 1.3089 - 1.3047 in the coming hours. Nevertheless, if we have a pullback from these levels, bulls will probably try to reach the next resistance at 1.3181.

7-11-2018-GBP-H1.png

Bulls have been stopped by the last 'V-Top' pattern, so it's time for a downward correction. The main intraday target is the nearest support at 1.3047 - 1.3032. This area could be a departure point for another upward price movement towards 1.3149 - 1.3181.

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