GBP/USD: consolidation near 89 MA

GBP/USD: consolidation near 89 MA

7-7-2017-GBP-H4.png

There's a "Triple Top", which pushed the price to support at 1.2947. So, the pair is likely going to decline in the direction of the next support at 1.2926 - 1.2887. If a pullback from these levels happens, we could have another upward price movement towards resistance at 1.2976 - 1.3013.

7-7-2017-GBP-H1.png

The price is still consolidating near the 89 Moving Average. Also, there's a "Flag" pattern, so the market is likely going to test the closest support at 1.2915 in the short term. Considering a possible pullback from this level, bulls will have an option to reach resistance at 1.2976 - 1.3013 afterwards.

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