GBP/USD: pair is consolidating

GBP/USD: pair is consolidating


Bears faced with resistance at 1.3244, so the pair is consolidating. The main intraday target is the next resistance at 1.3297 - 1.3314. A pullback from this area could be a starting point for a bearish correction to 1.3244 - 1.3216.


It seems like there's a triangle pattern. If so, the market is likely going to continue moving up in the coming hours. In this case, we should keep an eye on the nearest resistance at 1.3314, which could lead to a downward correction.



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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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