GBP/USD: "V-Top" pushing price lower

GBP/USD: "V-Top" pushing price lower

The price is consolidating between the levels 1.2911 – 1.2773. Considering the last “V-Top” pattern, the market is likely going to reach the nearest support at 1.2726. If a pullback from this level be on the table, there’ll be an opportunity to have an upward price movement towards the next resistance at 1.2816 – 1.2865.

There’s a consolidation, which is taking place above the broken “Pennant”. So, bulls are likely going to reach a resistance at 1.2900 – 1.2911 during the day. Meanwhile, if we see a pullback from these levels, bears will probably try to test the 89 Moving Average.

gbp

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The pair has been trading in a bullish tone since November 9th but currently it’s off from November 17th highs and we can expect that it finds dynamic support in the 200 SMA…

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