GBP/USD: Moving Averages acting as support

GBP/USD: Moving Averages acting as support


The price is consolidating along the Moving Averages. Considering the double pullback from resistance at 1.2913, bears are likely going to test the closest support at 1.2843 - 1.2816. However, if we have a pullback from this area, we should keep in mind the next resistance at 1.2913 - 1.2945 as the next bullish target.


The 55 & 34 Moving Averages are acting as support. If these lines turn out to be broken, bears are likely going to achieve the closest support at 1.2848 - 1.2839. At the same time, if a pullback from this area happens, bulls will have a chance to deliver a new local high.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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