GBP/USD: bears going to end the consolidation
The price has been moving in a flat’s range under the “Triangle’s” lower side. Also, there’re a support at 1.3116 and a resistance by the 34 Moving Average. Therefore, the market is likely going to get a resistance on the 55 Moving Average in the short term. It’s very likely to see a pullback from this line, which could turn out for the next stage of decline.
There’s a consolidation between the 89 Moving Average and the nearest support at 1.3063. So, bulls are likely going to get a resistance at 1.3174 – 1.3204 during the day. At the same time, if we a pullback from this resistance appears, bears will probably try to deliver a new low soon.