There’s a “Triple Top” pattern, which has been confirmed. Finally, the price faced a resistance near the local up trend, which led to the current decline. It’s likely to see a bullish correction towards the lower side of the nearest resistance area. If a pullback forms afterwards, then a decline will have an opportunity to resume. If so, a support area at 1.4170 – 1.4117 is going to be reached soon.
The price has faced a support at 1.4170, which led to form a “V-Bottom” pattern. The bullish movement is likely going to achieve a resistance area between the 55 Moving Average and the level at 1.4283. Considering a possible pullback somewhere from this area, it’s possible that bears are going to taste a support at 1.4117.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
