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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" highlights possible decline

GBP/USD: "Double Top" highlights possible decline

Bears faced a support at 1.3056, so we’ve got an upward correction in progress. Also, there’s a “Double Top”, so bears are likely going to reach a support at 1.3022. However, if a pullback from this level be on the table, there’ll be a chance to see a bullish correction towards a resistance at 1.3119 – 1.3183.

GBP/USD: "Double Top" highlights possible decline

We’ve got a “V-Bottom” pattern, so the market is consolidating. At the same time, there’s a “Double Top”, so the price is likely going to decline in the direction of the nearest support at 1.3022 in the short term.

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