GBP/USD: bearish "Thorn"

GBP/USD: bearish "Thorn"


There's a consolidation, which is taking place along the 34 Moving Average. In this case, we should keep an eye on support at 1.2945 - 1.2913 as an intraday bearish target. If a pullback from these levels happens, the pair is going to rise in the direction of the next resistance at 1.3057 - 1.3090.


We've got a "Thorn" under resistance at 1.3047, so the price is consolidating. The 55 Moving Average is acting as support. Under this circumstances, bears are likely going to reach the closest support at 1.2913, which could be a departure point for an upward price movement towards resistance at 1.2988 - 1.3023.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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