GBP/USD: 34 Moving Average acted as resistance

GBP/USD: 34 Moving Average acted as resistance


The 34 Moving Average has acted as resistance, so there's a developing bearish correction. Also, we've got a local 'Double Bottom', so the price is likely going to test the next resistance at 1.3189.


The market is consolidating along the Moving Average. Considering the last 'Double Bottom', the pair is likely going to test another resistance at 1.3157 - 1.3189 within the next few hours.



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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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