GBP/USD: 34 Moving Average acts as resistance

GBP/USD: 34 Moving Average acts as resistance


We've got a "V-Bottom", which pushed the price to the nearest resistance at 1.3150. The 89 Moving Average is likely going to act as resistance in the short term. If we have a pullback from this line, bears will probably try to test the closest support at 1.3120 - 1.3081.


There's a "Double Bottom", which has been confirmed. At the same time, the 34 Moving Average acts as resistance, so bears are likely going to reach the nearest support at 1.3109 - 1.3087 during the day. This area could be a departure point for a bullish price movement towards the next resistance at 1.3182 - 1.3208.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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