GBP/USD: bullish "Triangle"

The 34 Moving Average is acting as a support. Also, we’ve got a “Triangle”, so we should keep an eye on a resistance at 1.2547 as an intraday target. If a pullback from this level happens, the pair is likely going to get a support on the 89 Moving Average.

The price is still consolidating along the Moving Averages. Considering the “Triangle”, bears are likely going to achieve a support at 1.2469 – 1.2448 during the day. Nevertheless, bulls will probably try to reach a resistance at 1.2497 – 1.2506 afterwards.

Sergey Logachev

Similar

20.07.2018 19:14 GBP/USD reversed from support zone

GBP/USD reversed from support zone Next buy target - 1…

gbp

20.07.2018 19:11 EUR/GBP reversed from resistance zone

EUR/GBP reversed from resistance zone Next sell target - 0…

gbp eur

20.07.2018 10:35 GBP/USD: local bullish correction is underway

The pair is likely going to reach the nearest support at 1.2957 - 1.2938 in the short term. This area could be a starting point for...

gbp

Popular

23.06.2017 08:56 EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

17.08.2017 23:02 GBP/JPY broke support level 141.30

GBP/JPY broke support level 141…

gbp jpy

24.05.2017 06:22 USD/CHF: bears saw a dragon

Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…