The price is consolidating because of the last ‘Thorn’ pattern. Even so, we should keep an eye on the nearest resistance at 1.3081 – 1.3102 as the next bullish target. A pullback from this level could be a starting point for a decline towards 1.3027 – 1.2982.
The market is consolidating under the 34 Moving Average. It’s likely that the pair is going to test the closest support at 1.3027 – 1.3006. If a pullback from these levels happens next, there’ll be a moment to have another bullish price movement.
GBP/USD H4
GBP/USD H1
