GBP/USD: 55 MA acted as support

GBP/USD: 55 MA acted as support

2019-11-11 • Updated

14-9-2017-GBP-H4.png

We've got a "V-Top" pattern, which pushed the price to support at 1.3190. Therefore, the market is likely going to reach the nearest resistance at 1.3129 - 1.3249. If a pullback from this area happens, there'll be an opportunity to have a decline towards the next support at 1.3190 - 1.3159.

14-9-2017-GBP-H1.png

The 55 Moving Average has acted as support, so the price is consolidating. In this case, bulls are likely going to test the closest resistance at 1.3227 - 1.3249. However, if we see a pullback from this area, bears will probably try to achieve another support at 1.3186 - 1.3159.

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