GBP/USD: consolidation along 55 MA

GBP/USD: consolidation along 55 MA

19-7-2017-GBP-H4.png

There's a "Double Top" pattern, which has been confirmed. Therefore, the pair is likely going to test the nearest support at 1.2982 in the short term. If we have a pullback from this level, there'll be an opportunity to see the price even higher. So, we should keep in mind the next resistance at 1.3116 as an intraday target.

19-7-2017-GBP-H1.png

The price is consolidating along the 55 Moving Average. It's likely that the market is going to reach the closest resistance at 1.3077 during the day. If a pullback from this level happens, we're likely going to have another decline towards the next support at 1.3006 - 1.2982.

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