GBP/USD: 'V-Top' pattern pushed price lower

GBP/USD: 'V-Top' pattern pushed price lower

27-7-2018-GBP-H4.png

All the Moving Averages have been broken. Previously, we had a 'V-Top' pattern. If a pullback from the nearest support 1.3070 happens next, we're going to have an upward correction towards the 34 Moving Average.

27-7-2018-GBP-H1.png

The pair is consolidating. It's likely that the market is going to test the next support at 1.3089 - 1.3070. However, a pullback from this area could be a starting point for a correction in the direction of the nearest resistance at 1.3157 - 1.3189.

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