GBP/USD Is Testing the Support at 1.3155

GBP/USD bounced off from the resistance at 1.3340 after forming a doji candlestick together with a shooting star candlestick, both at that level and both on the four-hour time-frame. After a short-term consolidation the pair broke out below 1.3255, which is the (MA)89 indicator on the same time-frame and continued falling, finally finding some support at 1.3155. Currently the pair has formed a spinning top candlestick at that level, once again on the four-hour time-frame. Such a candlestick is a sign of indecision, rather than a reversal, so whether or not pair will continue falling depends on whether it will break out below the support at 1.3155. If it does then next target is likely at 1.3090, which is the (MA)89 indicator on the daily time-frame. On the other hand, if it bounces off from 1.3155 it will probably rally to 1.3255, which from a support level would’ve become a resistance.