GBP/USD: bullish

GBP/USD: bullish "Triangle"

2019-11-11 • Updated

5-6-2017-GBP-H4.png

The price is consolidating between resistance at 1.2913 and the 34 Moving Average. In this case, the pair is likely going to test the nearest resistance at 1.2913 - 1.2945, which could be a departure point for another decline in the direction of the closest support at 1.2887 - 1.2865.

5-6-2017-GBP-H1.png

We've got a bullish "Triangle", so we should keep an eye on the next resistance at 1.2935 - 1.2952 as an intraday target. Nevertheless, if a pullback from this area arrives afterwards, we could have a decline towards the 34 Moving Average.

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