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GBP/USD: 34 Moving Average acted as support

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22-2-2018-GBP-H4 (1).png

The price is consolidating under the nearest resistance at 1.3913. The main intraday target is the next resistance at 1.3913 - 1.3944, so we're likely going to have a new local high soon.

22-2-2018-GBP-H1 (1).png

The 34 Moving Average has acted as support, so the price is consolidating. It's likely that bulls are going to achieve the next resistance at 1.3913 - 1.3944. However, if a pullback from this area happens, there'll be a moment to have a downward correction.

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