GBP/USD: Moving Averages waiting for bulls
We’ve got a bullish “Thorn” at the new historical low, which led to the current upward movement. Therefore, the market is likely going to continue rising towards a resistance at 1.2677. If a pullback from this level happens, there’ll be an opportunity to have another decline in the direction of a support at 1.2226.
The price has been moving in a flat’s range on the one-hour chart. It’s likely that the price is going to reach an area between the 34 Moving Average and the closest resistance at 1.2621. If we see a pullback from here, then bears will try to deliver a price movement towards a support at 1.2349 – 1.2226.