GBP/USD: 'Thorn' pattern led to consolidation

GBP/USD: 'Thorn' pattern led to consolidation

12-9-2018-GBP-H4.png

The price is consolidating because of the last 'Thorn' pattern. Even so, we should keep an eye on the nearest resistance at 1.3081 - 1.3102 as the next bullish target. A pullback from this level could be a starting point for a decline towards 1.3027 - 1.2982.

12-9-2018-GBP-H1.png

The market is consolidating under the 34 Moving Average. It's likely that the pair is going to test the closest support at 1.3027 - 1.3006. If a pullback from these levels happens next, there'll be a moment to have another bullish price movement.

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