GBP/USD: "Double Top" stood in the way of bulls
The price found a resistance at 1.3247, which led to the current consolidation. Also, there’s a “Double Top” pattern. If it confirms, the market is likely going to get a support at 1.3119 in the short term. However, if a pullback from this level be on the table, bulls will probably try to achieve the nearest resistance at 1.3247 – 1.3302.
We’ve got a consolidation along a resistance at 1.3247. Also, there’s a possible “Double Top” pattern, which hasn’t been finished yet. Therefore, bears are likely going to get a support at 1.3183 – 1.3160 shortly. Nevertheless, if a pullback from this area arrives later on, there’ll be an opportunity to have an upward price movement in the direction of a resistance at 1.3271 – 1.3302.