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GBP/USD: market to test 89 Moving Average

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30-7-2018-GBP-H4.png

We've got a 'V-Bottom', so the market is likely going to test the 89 Moving Average. A pullback from this line could be a starting point for a decline towards the nearest significant support at 1.3101 - 1.3070.

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The price is testing the Moving Averages. The main intraday target is the next resistance at 1.3157 - 1.3167. If a pullback from this area happens next, bears will probably try to reach the previously tested support at 1.3081 - 1.3070.

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