GBP/USD: price to test 34 Moving Average

GBP/USD: price to test 34 Moving Average


There's a local bullish 'Double Bottom', so the price is consolidating. At the same time, if a pullback from the closest resistance at 1.3656 - 1.3711 happens afterwards, bears are likely going to test the next support at 1.3612 - 1.3549.


We're likely going to have an upward correction because of the last 'Double Bottom' pattern. So, we should keep an eye on the 34 Moving Average as an intraday bullish target.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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