GBP/USD: 34 & 55 MA acting as support

GBP/USD: 34 & 55 MA acting as support

5-9-2017-GBP-H4.png

The 34 & 55 Moving Averages are acting as support. Nevertheless, the pair is likely going to test the next support at 1.2891 - 1.2853 in the short term. If a pullback from this area happens little later on, we should keep an eye on the nearest resistance at 1.2989 - 1.3021 as an intraday bullish target.

5-9-2017-GBP-H1.png

Bears faced with support at 1.2916, so the price is consolidating. Also, there's a "Flag" pattern, so the market is likely going to reach the closest support area at 1.2891 - 1.2872, which could be a departure point for a bullish correction.

gbp

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