GBP/USD: 'V-Bottom' led to consolidation

GBP/USD: 'V-Bottom' led to consolidation

25-5-2018-GBP-H4.png

The price is consolidating after a 'V-Bottom' was formed. It's likely that the 34 Moving Average is going to act as resistance. If so, there'll be a green light for another decline.

25-5-2018-GBP-H1.png

We've got a 'V-Bottom', so the market is going to test the 89 Moving Average. A pullback from this line could be a departure point for a bearish price movement.

gbp

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