GBP/USD: price faced support by local uptrend
There’s a “Double Top” pattern, which has been confirmed, so the market achieved a support at 1.3160. Therefore, bears are likely going to reach the next support at 1.3119 soon. At the same time, if a pullback from this level be on the table, we should keep an eye on the closest resistance at 1.3271 – 1.3302 as a possible bullish intraday target.
The price faced a support by the local uptrend, which led to an achievement of the nearest resistance at 1.3214. So, bulls are likely going to reach the next resistance at 1.3247 shortly. However, if we see a pullback from here, there’ll be a chance to have another decline towards a support at 1.3183 – 1.3160.