The pair has a downward trend, which faced a support at 1.3878. There’s a “Flag” pattern, so it’s likely to see a decline towards a resistance area at 1.3681 until we’ve got any bullish reversal pattern.
The market has a local downward trend on the one-hour chart. The lower side of “Flag” was broken and the price started falling down towards a support at 1.3878. It’s likely that the pair will go higher to a resistance area between the levels 1.3899 – 1.3931. However, the price might go to a new downward movement afterwards to a support area under the level 1.3681 until any reversal pattern arrives.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
