GBP/USD: pair under Moving Averages

GBP/USD: pair under Moving Averages

2019-11-11 • Updated

3-12-2018-GBP-H4.png

There's a 'Double Bottom' pattern, which has been confirmed, so the price is rising. The next bullish target is the nearest resistance at 1.2852 - 1.2883. The subsequent pullback from these levels could be a starting point for a bearish correction towards the closest support at 1.2784 - 1.2763.

3-12-2018-GBP-H1.png

All the Moving Averages have been broken. It's likely that the pair is going to test the next resistance at 1.2849 - 1.2863 soon. If a pullback from this area forms next, there'll be an opportunity to have a decline in the direction of 1.2805 - 1.2795.

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