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GBP/USD: price going to test Moving Average
2019-11-11 • Updated
Bulls faced a resistance at 1.2595, so we’ve got a “V-Top” pattern, which pushed the price to a support at 1.2557. Therefore, the pair is likely going to test the next support at 1.2522, which could be a departure point for an upward price movement in the direction of a resistance at 1.2614 – 1.2635.
There’s a “V-Top” pattern, which has been confirmed. Also, we’ve got a bearish “Flag”, so the pair is likely going to test the 34 Moving Average during the day. If a pullback from this line happens, there’ll be an opportunity to have a new local high shortly.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
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