GBP/USD: bulls  going to reach the next support

GBP/USD: bulls going to reach the next support

12-7-2017-GBP-H4.png

Bears faced support at 1.2817, but the pair is likely going to reach the next support at 1.2793 - 1.2768. Meanwhile, if we have a pullback from this area, there'll be an option to have an upward price movement in the direction of the 89 Moving Average.

12-7-2017-GBP-H1.png

The price is consolidating near the last "Pennant" pattern. Also, there's support at 1.2817. In this case, the price is likely going to reach the nearest support at 1.2793 - 1.2768 during the day. However, if we see a pullback from these levels, bulls will have a green light to achieve resistance at 1.2830 - 1.2860.

gbp

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