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GBP/USD: market is consolidating

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10-7-2018-GBP-H4.png

We've got a 'V-Top', so the market is consolidating. It's likely that the pair is going to reach the closest resistance at 1.3291 - 1.3314. This area could be a starting point for a decline towards the 34 Moving Average.

10-7-2018-GBP-H1.png

There's a 'V-Bottom', so the market is likely going to test the nearest resistance at 1.3314 in the coming hours. Meanwhile, if a pullback from this level forms little later on, bears will probably try to reach the next support at 1.3222.

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