The market has plunged because of the last ‘Triple Top’ pattern. Also, there’s a ‘V-Bottom’, so we could have an upward correction in the short term. Even so, bears are likely going to test the next support at 1.2695 – 1.2661 little later on. The following pullback from this area could lead to forming a bullish correction.
There’s a ‘V-Bottom’ pattern, so the pair is likely going to reach the closest resistance at 1.2784 – 1.2852 during the day. If a pullback from these levels happens next, there’ll be a green light for another decline in the direction of the nearest support at 1.2728 – 1.2695.
GBP/USD H4
GBP/USD H1
