GBP/USD: consolidation along the MA

GBP/USD: consolidation along the MA

16-6-2017-GBP-H4.png

There's a developing "Rising Wedge", so the price faced resistance on the 34 Moving Average. In this case, the pair is likely going to decline towards support at 1.2738 - 1.2705. At the same time, if we see a pullback from these levels, there'll be an open door for another upward price movement towards resistance at 1.2768 - 1.2793.

16-6-2017-GBP-H1.png

The price is consolidating along the Moving Averages. It seems like bulls are likely going to test the 89 Moving Average. If we see a pullback from this line, bears will probably try to achieve the next support at 1.2738 - 1.2705.

gbp

Similar

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera