GBP/USD: price testing the 34 Moving Average

GBP/USD: price testing the 34 Moving Average

21-3-2018-GBP-H4.png

There's a "Double Top" pattern, so the pair is likely going to test the nearest support at 1.3928. Meanwhile, if a pullback from this level happens little later on, there'll be an opportunity to have an upward price movement.

21-3-2018-GBP-H1.png

The price is testing the 34 Moving Average. If this line turns out to be broken, bears are going to test the next support at 1.3928. If a pullback from this level happens, we should keep an eye on the nearest resistance at 1.4069 - 1.4087 as an intraday target.

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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

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