GBP/USD: price consolidating above MA

GBP/USD: price consolidating above MA

16-4-2018-GBP-H4.png

The main trend is still bullish. It's likely that the pair is going to test the next resistance at 1.4295 - 1.4314. However, if a pullback from these levels happens little later on, there'll be a moment for a decline in the direction of another support at 1.4217 - 1.4199.

16-4-2018-GBP-H1.png

The price is consolidating above the Moving Averages. So, we should keep an eye on the next resistance at 1.4295 - 1.4314 as an intraday target. This area could be a starting point for a downward correction.

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