The market has been declining since the last ‘Flag’ pattern has been broken. It’s likely that the pair is going to test the next support at 1.3025 – 1.3004 in the coming hours. A pullback from this area could be a starting point for a bullish price movement towards the nearest resistance at 1.3143.
All the Moving Averages have been broken, so the pair is declining. Meanwhile, it’s likely to have a local upward correction during the day. So, we should keep an eye on the closest resistance at 1.3094 as a target. If a pullback from this level happens next, bears will probably try to test another support at 1.3025 – 1.3004.
GBP/USD H4
GBP/USD H1
