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GBP/USD: bulls on the way towards the nearest resistance

GBP/USD: bulls on the way towards the nearest resistance

The price found a resistance at 1.4638, which stopped the bullish rally. There’s a possible “Triangle”, so the current upward movement is likely going to reach the next resistance at 1.4695. If a pullback from this level happens, bears will probably try to deliver a downward correction.

GBP/USD: bulls on the way towards the nearest resistance

As we can see on the one-hour chart, the price faced a resistance at 1.4613, which led to the current consolidation. Therefore, the market is likely going to rise towards the next resistance at 1.4662 – 1.4695 in the short term. If bulls be stopped here, there’ll be an opportunity to see a bearish correction towards a support at 1.4585 – 1.4559.

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