GBP/USD: market going test next support

GBP/USD: market going test next support

26-7-2017-GBP-H4.png

The price is consolidating. Also, we've got a "V-Top" pattern, so the market is likely going to test the 34 Moving Average in the short term. If a pullback from this line arrives afterwards, bulls will have a green light to achieve the next resistance at 1.3057 - 1.3083.

26-7-2017-GBP-H1.png

We've got a bearish "V-Top" pattern, which pushed the price towards the 55 Moving Average. So, the market is likely going to test the next support at 1.2982. If we have a pullback from this level, there'll be an opportunity to have another upward price movement in the direction of resistance at 1.3047 - 1.3057.

gbp

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