GBP/USD: price consolidating along Moving Averages

GBP/USD: price consolidating along Moving Averages


Bulls faced with resistance at 1.3253, so the price is consolidating. It's likely that the pair is going to test the 89 Moving Average in the coming hours. This line could be a departure point for a decline in the direction of the closest support at 1.3213.


The pair is rising because of the last 'Pennant' pattern. Meanwhile, if we have a pullback from the nearest resistance at 1.3253, the price is likely going to reach the 34 Moving Average. If this line acts as support, there'll be an opportunity to have another bullish rally.



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