GBP/USD: 55 MA acted as support

GBP/USD: 55 MA acted as support

21-9-2017-GBP-H4.png

There's a "Double Top", but the price is consolidating. It's likely that bears are going to reach the nearest support at 1.3374. Meanwhile, if we have a pullback from this level, bulls will probably try to reach the closest resistance afterwards.

21-9-2017-GBP-H1.png

The 55 Moving Average has acted as support, so the price is consolidating. Also, we've got a developing bearish "Flag" pattern. In this case, bulls are likely going to test the nearest resistance at 1.3532 - 1.3550. If a pullback from these levels arrives later on, there'll be an opportunity to have a bearish price movement towards the 89 Moving Average.

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