GBP/USD: price consolidating above the 55 MA

GBP/USD: price consolidating above the 55 MA

5-11-2018-GBP-H4.png

The pair is consolidating above the 55 Moving Average line. Also, there's a 'V-Bottom' pattern, which has been confirmed. So, we should keep an eye on the next resistance at 1.3089 - 1.3103 as an intraday target. A pullback from this area could lead to a downward correction.

5-11-2018-GBP-H1.png

The last 'V-Top' pattern led to the current consolidation. It's likely that the price is going to test the nearest support at 1.2953 - 1.2930. The following pullback from this target could be a starting point for another bullish rally in the direction of the closest resistance at 1.3073 - 1.3089.

gbp

Similar

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera