GBP/USD: pair between the Moving Averages

GBP/USD: pair between the Moving Averages


The price is declining because of the last 'Double Top' pattern. The main intraday target is the next support at 1.2880 - 1.2844. Meanwhile, if a pullback from this level happens next, there'll be a moment to have a bullish price movement in the direction of the next resistance at 1.2974 - 1.2999.


All the Moving Averages have been broken. Also, there's a 'Breakaway Gap', but it's time for an upward correction. In this case, we should keep an eye on the nearest resistance at 1.2957 - 1.2974 as an intraday target. If we have a pullback from this level, bears will probably try to test another support at 1.2880 - 1.2844.



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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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