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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

GBP/USD: "Double Top" led to massive decline

GBP/USD: "Double Top" led to massive decline

There’s a “Double Top” pattern, which has been confirmed. Therefore, bears are likely going to move on, so we should keep an eye on the next support at 1.3056. If a pullback from this level be on the table, there’ll be an opportunity to see a local upward correction.

GBP/USD: "Double Top" led to massive decline

The last uptrend has been broken, which led to an achievement of a support at 1.3119. So, it’s likely to see a local correction towards the nearest resistance at 1.3160. However, bears are still strong, so the price is likely going to reach the next support at 1.3069 – 1.3032 in the short term.

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