GBP/USD: bulls going to deliver deeper upward correction
The price faced a resistance on the 55 Moving Average, so bears are likely going to deliver a decline towards a support at 1.3015 – 1.2954. However, we’ve got a “Double Bottom” here, so bulls will probably try to achieve a resistance at 1.3119 – 1.3173 afterwards.
We’ve got a consolidation between the nearest resistance at 1.3092 and the Moving Averages. Therefore, the pair is likely going to get a support at 1.2979. Considering a possible pullback from this level, we should keep an eye on the next resistance at 1.3101 – 1.3119.