GBP/USD: Moving Averages waiting for bears
The price found a resistance on the 89 Moving Average, so the market is likely going to achieve the 55 & 34 Moving Averages. However, there’s a “Double Bottom” as well, which makes possible the next bullish movement.
There’s a flat under the closest support at 1.3119. Therefore, it’s likely to see a decline towards the next support at 1.3092. At the same time, is a pullback from this level arrives, bulls will probably try to reach a resistance at 1.3183 – 1.3247.