GBP/USD: market to test the nearest support

GBP/USD: market to test the nearest support

21-1-2019-GBP-H4.png

There's a 'V-Top' pattern, so the market reached the nearest support at 1.2839. Meanwhile, it's likely that the pair is going to test the next support at 1.2814 in the coming hours. If a pullback from this level happens next, there'll be a moment for a bullish price movement towards 1.2946 - 1.2957.

21-1-2019-GBP-H1.png

The 89 Moving Average has acted as support, so the price is consolidating. Also, there's a 'Pennant' pattern, so it's likely that the market is going to achieve another support at 1.2831 - 1.2818 shortly. The subsequent pullback from this area could be a starting point for an advance in the direction of the previously tested resistance at 1.2930 - 1.2967.

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GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

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