There’s a consolidation, which is taking place under the nearest resistance at 1.3221. The main intraday target is the closest support at 1.3182 – 1.3150. If we have a pullback from this area, bulls will probably try to reach the 89 Moving Average.
The 89 Moving Average has acted as resistance, so there’s a “Double Top” pattern. In this case, the market is likely going to test the 34 MA during the day. Meanwhile, if a pullback from this line happens afterwards, there’ll be an option to have an upward price movement in the direction of the next resistance at 1.3221 – 1.3256.
GBP/USD H4
GBP/USD H1
