GBP/USD: pair is consolidating

Read the article on FBS website

11-6-2018-GBP-H4 (1).png

The pair is consolidating between the levels 1.3450 - 1.3344. Also, there's a 'V-Top' pattern, so the market is likely going to test the closest support at 1.3344 - 1.3380. A pullback from this area could be a departure point for another bullish rally.

11-6-2018-GBP-H1 (1).png

There's a 'V-Top', so the pair is declining. The main intraday target is the nearest support at 1.3332 - 1.3301. If we have a pullback from these levels afterwards, there'll be an opportunity to have a bullish price movement in the direction of the next resistance at 1.3401 - 1.3419.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.