There’s a “Double Top” under the 89 Moving Average. So, bears are likely going to get a support at 1.2979 – 1.2934 in the short term. However, if a pullback from this area happens, there’ll be an opportunity to have a bullish correction towards a resistance at 1.3119 – 1.3183.
The price faced a support at 1.3033, which led to the current consolidation. Therefore, the price is likely going to reach the 34 Moving Average during the day. At the same time, if a pullback from this line arrives later on, we should keep an eye on the next support at 1.3015 – 1.2979 as a possible bearish target.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
