GBP/USD: consolidation near 34 MA

GBP/USD: consolidation near 34 MA

2-11-2017-GBP-H4.png

The price has been consolidating since a pullback from resistance at 1.3336 happened. The main intraday target is the next resistance at 1.3370 - 1.3408. However, if we have a pullback from this area, there'll be an opportunity to have a decline towards the 89 Moving Average.

2-11-2017-GBP-H1.png

There's a consolidation, which is taking place near the 34 Moving Average. It's likely that bears are going to test the 55 Moving Average during the day. If a pullback from this line happens, we could have another upward price movement in the direction of the next resistance at 1.3336 - 1.3370.

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