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

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

9-11-2018-GBP-H4.png

The market is declining because of the last 'V-Top'. It's likely that the price is going to reach the closest support at 1.2930 - 1.2921 in the coming hours. The following pullback from this area could lead to a bullish price movement towards the previously tested resistance at 1.3032 - 1.3047.

9-11-2018-GBP-H1.png

There's a 'Double Top' pattern, which has been confirmed, so the pair is moving down. The main intraday target is the next support at 1.2953 - 1.2930. If a pullback from these levels happens little later on, bulls will probably try to test another resistance at 1.3032 - 1.3047.

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