GBP/USD: bearish "Triple Tops"
The price has formed a “Double Top” pattern, which led to decline towards a support at 1.3116. Nevertheless, there’s a possible “Flag”. If it confirms, the price is likely going to get a support at 1.3116 – 1.3015 in the short term. However, is a pullback from here happens afterwards, bulls will probably try to catch a resistance at 1.3471 – 1.3614.
We’ve got a “Triple Top”, so the price is consolidating under the Moving Averages. Therefore, the market is likely going to decline towards a support at 1.3104 during the day. If bears can’t break this level and we see a pullback from it, an upward intraday movement will be on the table.