GBP/USD: consolidation going to move on
The price faced a resistance at 1.2323, which led to the current consolidation. Therefore, the market is likely going to get a support at 1.2226 – 1.2089. If we see a pullback from this area, bulls will probably try to catch a resistance at 1.2476.
The 89 Moving Average has acted as a resistance, so we’ve got a local flat. In this case, it’s likely to see a bearish price movement towards a support at 1.2226 – 1.2132. However, if we have a pullback from these levels, we should keep an eye on the nearest resistance at 1.2323 – 1.2476 as an intraday target.