GBP/USD: market is still consolidating

GBP/USD: market is still consolidating


The market is still consolidating. It's likely that the pair is going to achieve the next support at 1.3493 - 1.3457 in the coming hours. However, if we see a pullback from these levels, there'll be a moment to have an upward correction in the direction of the nearest resistance at 1.3549 - 1.3612.


There's a consolidation, which is taking place under the Moving Averages. The main intraday target is the closest support at 1.3493 - 1.3457. Meanwhile, a pullback from this area could be a starting point for a bullish price movement towards the 55 Moving Average.



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