GBP/USD Forecast: ‘V-Top’ pattern points to decline

forex_news_gbp_7There’s a ‘V-Top’ pattern, so the pair is likely going to achieve the closest support at 1.3089 – 1.3047 in the coming hours. Nevertheless, if we have a pullback from these levels, bulls will probably try to reach the next resistance at 1.3181.

Bulls have been stopped by the last ‘V-Top’ pattern, so it’s time for a downward correction. The main intraday target is the nearest support at 1.3047 – 1.3032. This area could be a departure point for another upward price movement towards 1.3149 – 1.3181.

GBP/USD H4

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GBP/USD H1

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