GBP/USD: 'V-Top' under the Moving Averages

GBP/USD: 'V-Top' under the Moving Averages

14-12-2018-GBP-H4.png

There's a 'V-Top', which has been formed under the Moving Averages. However, if a pullback from the nearest support at 1.2588 happens next, there'll be time for another upward price movement. In this case, we should watch the closest resistance at 1.2695 - 1.2725. This area could be a starting point for a decline towards 1.2634 - 1.2588.

14-12-2018-GBP-H1.png

The price is consolidating between the Moving Averages. It's likely that the pair is going to test the next support at 1.2588 - 1.2562 in the coming hours. The subsequent pullback from this area could lead to a bullish price movement in the direction of 1.2658 - 1.2671.

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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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