GBP/USD: 34 Moving Average acted as support

GBP/USD: 34 Moving Average acted as support

22-2-2018-GBP-H4 (1).png

The price is consolidating under the nearest resistance at 1.3913. The main intraday target is the next resistance at 1.3913 - 1.3944, so we're likely going to have a new local high soon.

22-2-2018-GBP-H1 (1).png

The 34 Moving Average has acted as support, so the price is consolidating. It's likely that bulls are going to achieve the next resistance at 1.3913 - 1.3944. However, if a pullback from this area happens, there'll be a moment to have a downward correction.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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