GBP/USD: 89 Moving Average acted as support

GBP/USD: 89 Moving Average acted as support

30-1-2019-GBP-H4.png

There's a 'V-Top' pattern, which has been confirmed. However, there's a local downward correction is taking place, so we should watch the nearest resistance at 1.3174 - 1.3193 as an intraday target. The subsequent pullback from this area could lead to another decline towards the next support at 1.3047 - 1.3032.

30-1-2019-GBP-H1.png

The 89 Moving Average has acted as support, so the price is rising. The main intraday target is the closest resistance at 1.3174 - 1.3193. If a pullback from these levels happens in the coming hours, bears will probably try to deliver a new local low.

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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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