The pair has faced a resistance at 1.4738, so we’ve got a “Double Top” pattern, which has been confirmed. Therefore, the market is likely going to decline towards the nearest support at 1.4576. Nevertheless, bulls are still all around, so if we see a pullback from the support, a new upward movement becomes possible in the direction of the last high.
We’ve got a local “Flag” on the one-hour chart, so bears are likely going to get a support somewhere between the 89 Moving Average and the level at 1.4585. If sellers be stopped here, there’ll be an opportunity to see bulls’ attempts to return into the market.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
