GBP/USD:  support waiting for bears

GBP/USD: support waiting for bears

26-5-2017-GBP-H4.png

The price faced support at 1.2865, but the market is likely going to continue falling down in the direction of the next support at 1.2843. If a pullback from this level forms afterwards, there'll be an option to have an upward price movement towards resistance at 1.2945 - 1.2964.

26-5-2017-GBP-H1.png

Bears meet support at 1.2865, so the price is consolidating. Anyway, the pair is likely going to achieve another support at 1.2843 - 1.2816 soon. If sellers are stopped here, bulls will probably try to deliver an upward correction in the direction of the closest resistance at 1.2926.

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