GBP/USD: broken "Triangle"

GBP/USD: broken "Triangle"

29-12-2017-GBP-H4.png

The last "Triangle" has been broken, but the price is consolidating. The main intraday target is the 34 Moving Average. If this line acts as support, bulls are likely going to test the closest resistance at 1.3465 - 1.3519.

29-12-2017-GBP-H1.png

The uptrend has acted as resistance, so the price is consolidating. In this case, we're likely going to have a bearish correction in the short term. If a pullback from the closest support happens at 1.3420, we could have just another bullish rally.

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