GBP/USD: 55 MA acting as resistance

GBP/USD: 55 MA acting as resistance

2019-11-11 • Updated

14-8-2017-GBP-H4.png

The price is consolidating between the levels 1.3032 - 1.3047. Also, we've got a "Triangle", but the 89 Moving Average is acting as support. Anyway, bulls are likely going to test the nearest resistance at 1.3058 - 1.3081. If a pullback from these level arrives later on, we could have a decline towards support at 1.3013.

14-8-2017-GBP-H1.png

There's a "Bear Trap", so we've got a new local high. The 55 Moving Average is acting as resistance, so we should keep an eye on the closest support at 1.2982 as an intraday target. Meanwhile, bulls are likely going to test the next resistance at 1.3058 - 1.3082 soon.

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