GBP/USD Forecast: pair declining since triangle was broken

gbp_usd_news_1The pair has been declining since the triangle’s lower side was broken. The main intraday target is the next support at 1.2957 – 1.2932. This area could be a starting point for an upward correction in the direction of the nearest resistance at 1.3032 – 1.3047.

The market is declining because of the last ‘V-Top’. Nevertheless, it’s likely to have a bullish correction soon, so we should keep on track the closest resistance at 1.2994 – 1.3015 as an intraday target. If we have a pullback from these levels, bears will probably try to test another support at 1.2957 – 1.2932.

GBP/USD H4

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GBP/USD H1

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