There’s a ‘Double Top’, which pushed the market lower. However, we’ve got a ‘Thorn’ pattern, so the price is likely going to reach the next resistance at 1.3143. A pullback from this level could be a starting point for a decline towards the nearest support at 1.3047 – 1.3032.
It’s likely that we’re going to have a local decline in the direction of the closest support at 1.3081 – 1.3072 in the coming hours. However, a pullback from this area could lead to forming a new local high.
GBP/USD H4
GBP/USD H1
