GBP/USD: main trend is still bullish

GBP/USD: main trend is still bullish

10-2-2018-GBP-H4.png

The main trend is still bullish, but the price is consolidating near the 34 Moving Average. It's likely that the market is going to test the nearest resistance at 1.3569 - 1.3505. This area could be a departure point for a decline in the direction of another support at 1.3519 - 1.3493.

10-2-2018-GBP-H1.png

The price is consolidating between the Moving Averages. The main intraday target is the nearest resistance at 1.3549 - 1.3569. However, if a pullback from this area forms little later on, there'll be a moment to have a downward price movement towards the next support at 1.3519 - 1.3493.

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