The market has found a resistance on the 89 Moving Average line and a consolidation was started afterwards. It’s likely that the downward movement will go on to a support area between the levels 1.4148 – 1.4078. However, if we see a pullback from this area, the price are probably going to rise towards the nearest resistance area 1.4193 – 1.4234.
There’s a “Triple Top” at the last high, which led to a correction towards the 34 Moving Average. The pair are likely going to rise towards a resistance at 1.4234, but bears might try to come back afterwards and, so we should keep an eye on a support area between the levels 1.4133 – 1.4078.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
