GBP/USD: price going to test support once again
We’ve got a downward consolidation on the four-hours chart. In this case, the price is likely going to get a support at 1.2089 shortly. If any bullish pattern arrives afterwards, there’ll be an opportunity to have a correction towards the nearest resistance at 1.2476.
The price has been moving in a range of the current flat. Nevertheless, it’s likely that the pair is going to reach a support at 1.2089 during the day. If bears be stopped here, then bulls will have a chance to deliver a correction in the direction of the 89 Moving Average.