GBP/USD: 34 Moving Average acted as support

GBP/USD: 34 Moving Average acted as support


The 34 Moving Average has acted as support, but the market is likely going to test another support at 1.2839 - 1.2814 in the coming hours. If a pullback from this area happens next, bulls will probably try to reach the next resistance at 1.2946 - 1.2957, which was tested earlier.


The market is consolidating along the Moving Averages. The main intraday target is the closest resistance at 1.2897. The subsequent pullback from this level could lead to a decline in the direction of the last locat low, so we should keep an eye on the nearest support at 1.2831 - 1.2818.



Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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