The price is consolidating near the 89 Moving Average. Also, there’s a bullish “Thorn” pattern, so the market is likely going to test the next resistance at 1.3182 – 1.3238. If a pullback from these levels happens, we could have a decline towards the closest support at 1.3182 – 1.3150.
The Moving Averages have acted as support, so there’s a “V-Bottom” pattern. In this case, bulls are likely going to reach the nearest resistance at 1.3179 during the day. If we see a pullback from this level, there’ll be time for downward correction.
GBP/USD H4
GBP/USD H1
