GBP/USD: resistance waiting for bulls

Read the article on FBS website

15-5-2017-GBP-H4.png

The 55 Moving Average has acted as support, so we've got a "Double Bottom" on this line. Therefore, the pair is likely going to rise towards the closest resistance at 1.2964 - 1.2995. If a pullback from this area happens, we should keep an eye on support near the uptrend as a bearish target.

15-5-2017-GBP-H1.png

The last "Double Bottom" has been confirmed, so the price is rising. It seems like bulls are ready to push the market even higher. The main intraday target is resistance at 1.2955 - 1.2964. If buyers stop here, bears will have a chance to some revenge.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.