GBP/USD: market to test the next resistance

GBP/USD: market to test the next resistance

3-7-2018-GBP-H4.png

There's a 'Double Bottom', so the market is likely going to test the next resistance at 1.3203 - 1.3253. However, if we have a pullback from this level, we're likely going to have a bearish correction towards another support at 1.3143 - 1.3101.

3-7-2018-GBP-H1.png

The price is going to test the 89 Moving Average soon on the one-hour chart. A pullback from this line could be a starting point for a local decline. Even so, we should keep an eye on the nearest resistance at 1.3177 - 1.3213 as a bullish target.

gbp

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