GBP/USD: 34 Moving Average acted as support

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The market is consolidating between the levels 1.3047 - 1.3114. Also, the 34 Moving Average has acted as support. Meanwhile, it's likely that the pair is going to test the next support at 1.3011. The subsequent pullback from this line could be a starting point for another upward price movement towards the nearest resistance at 1.3174 - 1.3193.

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There's consolidation, which is taking place under the Moving Averages. The main intraday target is the closest resistance at 1.3109 - 1.3149. If a pullback from this area happens next, bears will probably try to achieve the nearest support at 1.3011 - 1.2999.

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