GBP/USD: 34 Moving Average acted as resistance

GBP/USD: 34 Moving Average acted as resistance

11-5-2018-GBP-H4.png

It seems like there's a 'Triple Bottom' pattern. So, the market is likely going to test the nearest resistance at 1.3612 - 1.3656 in the coming hours. Meanwhile, if a pullback from this area happens little later on, there'll be an opportunity to have another decline.

11-5-2018-GBP-H1.png

The 34 Moving Average has acted as resistance, so the price is moving sideways. Even so, after a short break, the pair is likely going to achieve the next resistance at 1.3606.

gbp

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