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GBP/USD: "Triple Top" as the driving force of the bearish revolution

GBP/USD: "Triple Top" as the driving force of the bearish revolution

There’s a “Triple Top” at the last high, which has been confirmed. Therefore, the price is falling down. We’ve got a pullback from a support at 1.4473, so it’s possible to see an upward correction in the short term. Anyway, bears are still strong, so the decline is likely going to be continued soon.

GBP/USD: "Triple Top" as the driving force of the bearish revolution

As we can see on the one-hour chart, there’s a “V-Top”, which led to the current downward movement. However, here’s a “Double Bottom” at the local low, so an upward correction becomes possible. Therefore, we should keep an eye on a resistance at 1.4548 as the probable bullish target.

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