GBP/USD: main trend still bullish

GBP/USD: main trend still bullish


The main trend is still bullish, but the price is still consolidating near the 34 Moving Average. So, it's likely to have a decline in the direction of the closest support at 1.3519 - 1.3493. Meanwhile, if we have a pullback from this area, bulls will probably try to achieve the next resistance at 1.3595 - 1.3618.


The pair is consolidating near the 55 Moving Average. The main intraday target is the closest resistance at 1.3595. At the same time, if we see a pullback from this level, there'll be an opportunity to have a downward price movement in the direction of another support at 1.3537 - 1.3519.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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