The price faced a support on the 89 Moving Average, which stopped bears. However, the current downtrend is likely going to move on, so we should keep an eye on the nearest support at 1.4343 – 1.4305. Therefore, a bullish correction becomes possible afterwards.
There’s a flat in progress under the Moving Averages. It’s likely that the market is going to reach a resistance at 1.4406 during the day. At the same time, bears still have enough power to deliver a new low subsequently.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
