GBP/USD Forecast: main trend is still bullish

eur_gbp_1The main trend is still bullish, but the price is consolidating near the 34 Moving Average. It’s likely that the market is going to test the nearest resistance at 1.3569 – 1.3505. This area could be a departure point for a decline in the direction of another support at 1.3519 – 1.3493.

The price is consolidating between the Moving Averages. The main intraday target is the nearest resistance at 1.3549 – 1.3569. However, if a pullback from this area forms little later on, there’ll be a moment to have a downward price movement towards the next support at 1.3519 – 1.3493.

GBP/USD H4

10-2-2018-GBP-H4.png

GBP/USD H1

10-2-2018-GBP-H1.png

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