GBP/USD: technical analysis
The price has been rising since a “Triple Bottom” was formed at the last low. The local downward trend has been broken, so it’s likely to see a rise towards a resistance area between the levels 1.4148 – 1.4172. If we see a pullback from these levels, the market might start falling down towards a support between the levels 1.4042 – 1.3958.
There’s a consolidation in progress along the support 1.4078. Previously, the local downward trend has been broken. It’s likely to see a bearish movement to a support area between the levels 1.4152 – 1.4167. However, bulls might come back and try to reach a resistance area between the level 1.4018 and the 55 Moving Average line.