There’s a “Double Top” pattern, which led to the current downward movement in a range of support zone 1.4343 – 1.4305. It’s likely to see the market even lower, so a support area between the 89 Moving Average and the level at 1.4282 is probably going to be reached soon. If a pullback arrives, then it’ll be a chance for bulls to come back to the market. If so, they are likely going to try to achieve a resistance area at 1.4436 – 1.4502.
The price has been declining since a resistance at 1.4468 was reached. Moreover, we’ve got a “Double Top” pattern as well, so the pair is likely going to get a support at 1.4259. If sellers be stopped here, then buyers will probably try to reach a resistance area at 1.4436 – 1.4468.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
