There’s a ‘Thorn’ pattern, so the price is consolidating. Nevertheless, the market is likely going to test the next support at 1.2658 – 1.2634 in the coming hours. If a pullback from this area happens next, there’ll be a moment for an upward correction towards the nearest resistance at 1.2784 – 1.2826.
The pair is consolidating between the levels 1.2661 – 1.2723. We’ve got a ‘V-Bottom’, so it’s likely that bulls are going to reach the closest important resistance at 1.2734 – 1.2755. The subsequent pullback from these levels could lead to another decline to 1.2658 – 1.2634.
GBP/USD H4
GBP/USD H1
