GBP/USD: bears going to break low because of "Flag"
There’s a “V-Bottom” patterns, so the price is consolidating on the four-hours chart. Also, we’ve got a local “V-Top” pattern, which points to an opportunity to have a decline towards a support at 1.2974. However, if bears be stopped on this level, there’ll be a chance to see another upward price movement.
A consolidation is taking place under the 34 Moving Average. Meanwhile, we’ve got a “Double Top” pattern, which has been confirmed by the last “Flag”. In this case, it’s likely that bears are going to reach a support at 1.2974 during the day. If a pullback from this levels happens later on, then bulls will have an opportunity to catch a resistance at 1.3115.