All the Moving Averages have been broken. Also, there’s a “V-Bottom” pattern, so the price is likely going to test the nearest resistance area at 1.3944 – 1.3979. At the same time, if we see a pullback from these levels, there’ll be a moment for another decline.
We’ve got a “V-Bottom”, so the pair is consolidating. The main intraday target is the 89 Moving Average. If we have a pullback from this line, bears will probably try to deliver a local downward price movement.
GBP/USD H4
GBP/USD H1
