GBP/USD: 89 Moving Average acting as support

GBP/USD: 89 Moving Average acting as support

20-12-2017-GBP-H4.png

The 89 Moving Average is acting as support, so the market is likely going to test the nearest resistance at 1.3454. If a pullback from this level happens, we could have a decline towards another support at 1.3369.

20-12-2017-GBP-H1.png

The price is consolidating above the Moving Averages. The main intraday target is the next resistance at 1.3430 - 1.3447, which could be a departure point for a downward price movement in the direction of the 89 Moving Average.

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