GBP/USD: resistance waiting for bulls

GBP/USD: resistance waiting for bulls

2019-11-11 • Updated

29-6-2017-GBP-H4.png

The price is consolidating above the broken trendline. It seems like bulls are ready to go even higher, so we should keep an eye on the next resistance at 1.2976 - 1.3013 as an intraday target. If a pullback from this area happens, there'll be an option to have a decline in the direction of the nearest support at 1.2976 - 1.2887.

29-6-2017-GBP-H1.png

Bulls faced resistance at 1.2976, so the price is consolidating. Nevertheless, the pair is likely going to continue moving up towards the next resistance at 1.3013, which could be a departure point for a local decline.

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