GBP/USD: price consolidating under Moving Averages

GBP/USD: price consolidating under Moving Averages


The price is consolidating under the Moving Averages. It's likely that after a short break the pair is going to reach the next resistance at 1.3341 - 1.3353, which could be a departure point for a downward correction.


We've got a 'Double Bottom', which pushed the price a little bit higher. However, the market is likely going to test the closest support at 1.3272 - 1.3253 during the day. If we have a pullback from this area afterwards, there'll be a green light for an upward price movement in the direction of another resistance at 1.3314 - 1.3341.



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