Hello traders, GBP/USD Sunday's technical analysis of the pair on a 1-hour chart. Here, the price formed a double top at the level of 1.3840, probably hitting the timeframe high and starting to correct downwards from there. The price has started to work within a large red zone, a blue zone that is just beginning to form, which could act as a resistance level as the price falls. The price may fully work through the red zone, with reference points at support levels: the moving averages - the red line at 1.3565, the black line at 1.3470, and the double bottom level at 1.3345.
