GBP/USD: market going to test 89 MA

GBP/USD: market going to test 89 MA

10-10-2017-GBP-H4.png

There's a "V-Bottom", so the price is consolidating. It's likely that the market is going to test the 89 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have a decline towards the nearest support at 1.3150 - 1.3115.

10-10-2017-GBP-H1.png

The 55 Moving Average acted as resistance. At the same time, bulls are likely going to test the closest resistance at 1.3221 - 1.3256 during the day. If we see a pullback from these levels, bears will probably try to test another support at 1.3150 - 1.3115 afterwards.

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