GBP/USD: bulls going to reach Moving Averages
The price has reached a support at 1.3015, which led to form a “V-Bottom” pattern, which pushed the price higher. Therefore, the market is likely going to rise towards the 34 Moving Average. At the same time, if a pullback from this line happens, there’ll be a chance to have a decline, so we should keep an eye on the closest support at 1.2945 – 1.2849.
We’ve got a “V-Bottom” pattern, which brought a consolidation into the market. Considering a support at 1.3017, bulls are likely going to reach a resistance at 1.3148 – 1.3174 in the short term. If a pullback from this area happens, bears will probably try to achieve the next support at 1.3017 – 1.2970.