GBP/USD: "V-Top" pushing the market lower

GBP/USD: "V-Top" pushing the market lower

GBP/USD: "V-Top" pushing the market lower

Bulls found a resistance at 1.2599, so there’s a “V-top” pattern. Therefore, the price is likely going to test the closest support at 1.2506 – 1.2477. Meanwhile, if we see a pullback from these levels, bulls will probably try to approach a resistance at 1.2599 – 1.2637.

 

GBP/USD: "V-Top" pushing the market lower

We’ve got a “V-Top”, so bears are likely going to reach a support area between the levels 1.2506 – 1.2492. However, if a pullback from this area happens, bulls are going to deliver another upward price movement. In this case, we should keep an eye on a resistance at 1.2599 – 1.2614 as an intraday target.

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