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GBP/USD: consolidation between Moving Averages

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28-8-2018-GBP-H4.png

The market is consolidating between the Moving Averages. It's likely that the price is going to test the nearest resistance at 1.2957. If we have a pullback from this level afterwards, there'll be a moment for a decline to 1.2911 - 1.2877.

28-8-2018-GBP-H1.png

There's a 'V-Bottom', so the price is rising. The main intraday target is the next resistance at 1.2935 - 1.2957. This area could be a starting point for a downward correction towards 1.2911 - 1.2877.

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