GBP/USD: confirmed 'Double Top'

Read the article on FBS website

28-1-2019-GBP-H4.png

There's a 'V-Top' pattern, which has been confirmed, so it's likely that the market is going to test the nearest support at 1.3146 - 1.3114. If a pullback from this area happens little later on, bulls will probably try to reach the next resistance at 1.3216 - 1.3235, so we could have a new local high shortly.

28-1-2019-GBP-H1.png

We've got a confirmed 'Double Top', which means there's a green light for a downward correction. The main intraday target is the closest support at 1.3149 - 1.3109. The subsequent pullback from these levels could lead to another bullish rally in the direction of 1.3216 - 1.3235.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.