GBP/USD Forecast: “Triple Top” pattern

gbpThe last bearish “Double Top” led to the current decline. It seems like bears are ready to move on, so we could have a new local low soon. At the same time, there’s an opportunity to have an upward correction afterwards. The main bullish target is the nearest resistance at 1.3182 – 1.3227.

The market has plunged because of the last “Triple Top” pattern. The price is likely going to reach the next support at 1.3061 – 1.3047 during the day. If we have a pullback from this area, bulls will probably try to test the closest resistance at 1.3150 – 1.3182.

GBP/USD H4

27-10-2017-GBP-H4.png

GBP/USD H1

27-10-2017-GBP-H1.png

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