GBP/USD: "Double Bottom" led to local correction
The price found a support at 1.3277, which led to the last upward movement. However, we’ve got a “V-Top” pattern, so the market is likely going to achieve the next support at 1.3247, which is strengthened by the uptrend. If we see a pullback from this level, then another upward movement becomes possible.
The 89 Moving Average has acted as a support on the one-hour chart. Also, there’s a possible “Double Bottom” pattern, so the price is likely going to get a resistance at 1.3374 -1.3396 during the day. Meanwhile, if we get a pullback from these levels, there’ll an open door for a decline toward the nearest support at 1.3251.