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.



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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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