GBP/USD: bearish correction to begin soon

GBP/USD: bearish correction to begin soon

31-7-2018-GBP-H4.png

The pair is still consolidating under the Moving Averages. The main intraday target is the 89 Moving Average. If a pullback from this line forms little later on, there'll be a green light for a bearish correction.

31-7-2018-GBP-H1.png

It's likely to have a bearish correction towards the nearest support at 1.3127 - 1.3112. This area could be a departure point for an upward price movement towards the next resistance at 1.3157 - 1.3176.

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