GBP/USD: another pullback from the 34 MA

GBP/USD: another pullback from the 34 MA


There's another pullback from the 34 Moving Average, so the price is consolidating. Even so, we should keep an eye on the next resistance at 1.2826 - 1.2852 as an intraday target. If a pullback from these levels happens next, bears will probably try to reach the closest support at 1.2763 - 1.2723.


It seems like there's a 'Pennant' pattern, which is about to end. In this case, the pair is likely going to reach the previously tested resistance at 1.2824 - 1.2839 shortly. Meanwhile, the subsequent pullback from this area could be a starting point for another decline towards 1.2755 - 1.2734.



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GBP/USD: confirmed "Thorn" pattern

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