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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: "V-Top" highlights possibility to have bearish correction

GBP/USD: "V-Top" highlights possibility to have bearish correction

There’s a “Triple Bottom” pattern, which brought bulls into the market. Also, the last downtrend has been broken. Considering a local “V-Top” pattern, there’s an opportunity to have a decline towards the nearest support at 1.3247 – 1.3209. However, if a pullback from these levels be on the table, bulls will have a reason to catch a resistance at 1.3345 – 1.3370.

GBP/USD: "V-Top" highlights possibility to have bearish correction

The price faced a resistance at 1.3302, so we’ve got a “V-Top” pattern here. It’s likely that the price is going to get a support at 1.3232 during the day. If bears be stopped by this support, then there’ll be a chance to have a new local high.

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