GBPUSD consolidating along the Moving Averages

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.

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