GBP/USD: Moving Average acted as resistance again
1/13/2017
The main trend is still bearish. Also, there’s a “Double Top”, which has been formed under a resistance at 1.2309. So, the market is likely going to test the nearest support at 1.2113 – 1.2081 in the short term. At the same time, there’s an opportunity to have another bullish price movement afterwards.
The price found a support at 1.2142, which led to the current consolidation. Meanwhile, bears are likely going to test the closest support at 1.2113 – 1.2081 during the day. Considering a possible pullback from this area, there’s a chance to see an upward movement towards a resistance near the downtrend later on.
More:
https://new.fxbazooka.com/analytics/12035
1/13/2017
The main trend is still bearish. Also, there’s a “Double Top”, which has been formed under a resistance at 1.2309. So, the market is likely going to test the nearest support at 1.2113 – 1.2081 in the short term. At the same time, there’s an opportunity to have another bullish price movement afterwards.
The price found a support at 1.2142, which led to the current consolidation. Meanwhile, bears are likely going to test the closest support at 1.2113 – 1.2081 during the day. Considering a possible pullback from this area, there’s a chance to see an upward movement towards a resistance near the downtrend later on.
More:
https://new.fxbazooka.com/analytics/12035