GBP/USD: bears going to test last low
We’ve got a “V-Bottom” pattern, which led to the current consolidation on the four-hours chart. However, bears are likely going to reach a support at 1.2684, so we can have a new low in the short term.
The last “Pennant” pattern helped bears to deliver a new local low. It’s likely that the price is going to achieve a support at 1.1284. So, the market is likely going to continue falling down until any reversal pattern arrives.