GBP/USD: pair to test the nearest resistance

GBP/USD: pair to test the nearest resistance

28-12-2018-GBP-H4.png

The 'Rising Wedge' pattern has been broken, so the price is consolidating. It's likely that the pair is going to test the nearest resistance at 1.2695 - 1.2725 in the coming hours. If a pullback from this area happens next, there'll be a moment for a decline towards 1.2606 - 1.2588.

28-12-2018-GBP-H1.png

The pair is consolidating above the Moving Averages. Previously, we had a 'Double Bottom' pattern. Therefore, after a short break, the price is likely going to reach the next resistance at 1.2681 - 1.2695. This area could be a departure point for another decline.

gbp

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