GBP/USD:  "Triangle" pushing price higher

GBP/USD: "Triangle" pushing price higher

25-5-2017-GBP-H4.png

The price is consolidating between the 34 Moving Average and resistance at 1.3057. Also, there's a triangle, so the pair is likely going to test the nearest resistance at 1.3057 - 1.3090. If a pullback from this area happens, there'll be an option to have a decline in the direction of the closest support at 1.2964 - 1.2945.

25-5-2017-GBP-H1.png

We've got a "Double Bottom", so the price has reached resistance at 1.2988. Also, there's a triangle, so bears are likely going to test the 89 Moving Average soon. Meanwhile, if a pullback from this line happens, bulls will probably try to test resistance at 1.3021 - 1.3028.

gbp

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