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GBP/USD: consolidation going to move on

GBP/USD: consolidation going to move on

There’s a consolidation, which is taking place on the four-hours chart. Considering that the price has broken the upper side of the last “Pennant”, bulls are likely going to reach the 34 Moving Average in the short term. If buyers be stopped here, there’ll be a chance to have a decline towards the nearest support area at 1.2089 – 1.1726.

GBP/USD: consolidation going to move on

The price found a resistance at 1.2271, but bulls are likely going to reach the next resistance at 1.2323. Meanwhile, if we see a pullback from this level, there’ll be an opportunity to have another bearish price movement.

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