GBP/USD: bearish "Thorn"

GBP/USD: bearish "Thorn"

23-5-2017-GBP-H4.png

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.

23-5-2017-GBP-H1.png

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.

gbp

Similar

EUR/USD: bullish wave [iii]

There's a pullback from 4/8 MM Level, so the price is rising. It's likely that we're going to have bullish wave...

Popular

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later