GBP/USD: consolidation between Moving Averages

GBP/USD: consolidation between Moving Averages


There's a 'Thorn' pattern, so the price is consolidating between the Moving Averages. Nevertheless, the pair is likely going to test the nearest resistance at 1.3027 once again. A pullback from this level could be a departure point for a downward correction.


We've got a 'V-Bottom', which has been formed on the Moving Averages. Previously, we had a 'Pennant' pattern. So, it's likely that the market is going to reach the closest significant resistance at 1.3006 within the next few hours.



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