GBP/USD: market moving sideways

GBP/USD: market moving sideways

31-8-2018-GBP-H4.png

The market is moving sideways. It's likely that the price is going to reach the next resistance at 1.3070 - 1.3090. A pullback from these levels could be a starting point for a bearish correction in the direction of another support at 1.2999 - 1.2974.

31-8-2018-GBP-H1.png

It's likely that we're going to have a 'Pennant' pattern. If so, the market is going to achieve the closest resistance at 1.3070 - 1.3090 soon. Meanwhile, if we have a pullback from this area, bears will probably try to test the nearest support at 1.2999 - 1.2974.

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