The price has formed a “Double Top” under the nearest resistance at 1.4426. Considering a confirmation of this pattern, the market is likely going to get a support at 1.4282. If so, a rise becomes possible towards a resistance area at 1.4305 – 1.4343.
We’ve got a “Triple Top”, which led to the current decline. The 34 Moving Average acted as a support, so bears currently have time to rest. Anyway, the market is likely going to reach a support at 1.4283. In case of a pullback from this level, bulls will have a chance to achieve a resistance at 1.4307 – 1.4343.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
