There’s a consolidation under the main downward trend. It’s likely to see the bearish movement towards a support area between the levels 1.4148 – 1.4078. The upward correction is probably going to begin afterwards to a resistance area between the levels 1.4148 – 1.4193.
We’ve got a “Triangle” pattern on the one-hour chart. It’s likely that the bearish movement is going to be deeper towards a support area between the 89 Moving Average line and the level 1.4133. The price might start an upward correction afterwards to a resistance area between the 34 and 55 Moving Average lines.
GBP/USD, H4
GBP/USD, H1
Origin: FX BAZOOKA
