The price is consolidating between the 55 Moving Average and the nearest support at 1.3116. So, the pair is likely going to get the next support at 1.3015 in the short term. However, if we see a pullback from this support, a bullish movement in the direction of a resistance at 1.3289 becomes possible.
Bears faced a support at 1.3116, which led to form a “Triple Bottom”, so the price started rising. Also, we’ve got a local “V-Top”, which makes possible an achievement of a support at 1.3071 – 1.3056. Nevertheless, bulls will probably try to get a resistance at 1.3247 – 1.3273.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
