GBP/USD: bulls going to test last high once again
Yesterday bulls reached a resistance at 1.3471, so we’ve got a local consolidation in progress. Also, there’s a “V-Top” pattern, so the market is likely going to decline towards a support at 1.3370 – 1.3345 in the short term. At the same time, if we see a pullback from this area, there’ll be a chance to have an upward movement in the direction of a resistance at 1.3502 – 1.3533.
We’ve got a “Double Top” on the one-hour chart, but bulls are likely going to try to break the last high once again during the day. Nevertheless, it’s possible to have a downward correction towards a support at 1.3374 – 1.3351.