There’s a “Double Top”, which has been confirmed. The price faced a support at 1.4576, so we’ve got a local correction in progress. Anyway, bears are likely going to reach a support on the 55 Moving Average in the short term. If this line stops sellers, an upwards correction becomes possible.
The price found a support on the 89 Moving Average, so there’s an intraday correction in progress. It’s likely possible that bears are going to continue their rally shortly. The nearest target is a support at 1.4559 – 1.4548, which can bring an upward correction into the market.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
