GBP/USD: consolidation above MA

GBP/USD: consolidation above MA


The price is consolidating above the Moving Averages. It's likely that the pair is going to test the closest support at 1.3928. However, if a pullback from this level happens, bulls will probably try to reach the next resistance at 1.3996 - 1.4069.


There's a consolidation, which is taking place near the 34 Moving Average. The main intraday target is the nearest support at 1.3928 - 1.3911. This area could be a departure point for a bullish price movement towards another resistance at 1.3996 - 1.4023.



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