GBP/USD: "Double Top" pattern

2018-03-13 20:01    FBS

GBP/USD: "Double Top" pattern Institution Opinions 1

Bulls faced with resistance at 1.3928, so there's a "V-Top" pattern, so the market is likely going to test the closest support at 1.3840. Meanwhile, if a pullback from this level forms afterwards, there'll be an opportunity to have an upward price movement in the direction of the next resistance at 1.3928.

GBP/USD: "Double Top" pattern Institution Opinions 2

There's a "Double Top" pattern, but the pair found support at 1.3876, so we could have a bullish price movement towards the nearest resistance at 1.3918 - 1.3928. These levels could be a starting point for another decline.


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