GBP/USD: price is consolidating

GBP/USD: price is consolidating

2-2-2018-GBP-H4 (1).png

The price is consolidating between the nearest resistance at 1.4284 and the 34 Moving Average. It's likely that the price is going to test the closest support at 1.4015 - 1.3979. If a pullback from this area happens, bulls will probably try to reach the next resistance at 1.4205 - 1.4284.

2-2-2018-GBP-H1 (1).png

There's a confirmed "Double Top", so bears are likely going to achieve the nearest support at 1.4024 - 1.3979 in the coming hours. Meanwhile, if we have a pullback from these levels, bulls will have a green light to reach another resistance at 1.4232 - 1.4284.

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