GBP/USD: consolidation between the Moving Averages

GBP/USD: consolidation between the Moving Averages

14-5-2018-GBP-H4.png

It seems like there's a 'Triple Bottom'. If this pattern confirms, the price is likely going to reach the nearest resistance at 1.3656 - 1.3711. A pullback from this area could be a starting point for a decline.

14-5-2018-GBP-H1.png

The price is consolidating between the Moving Averages. It's likely that the market is going to test the closest support at 1.3549 - 1.3531 within the next few hours. However, if a pullback from these levels forms afterwards, bulls will probably try to break the last local high.

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