GBP/USD: bulls going to break "Triangle"
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The 55 Moving Average is acting as a support. At the same time, there’s a developing “Triangle”, so the market is likely going to achieve the nearest resistance at 1.2547. If we see a pullback from this level, there’ll be an opportunity to have a downward price movement towards the 89 Moving Average.
The price is consolidating along the Moving Averages. Considering a “Triangle” pattern, the pair is likely going to test the closest resistance at 1.2522 – 1.2529. However, if a pullback from this area happens, we should keep an eye on a support at 1.2469 – 1.2448 as a possible bearish target.