GBP/USD: consolidation near 34 MA

GBP/USD: consolidation near 34 MA


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.


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.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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