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GBP/USD: price is testing 34 Moving Average

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24-8-2018-GBP-H4.png

There's a 'V-Bottom', so the price is testing the 34 Moving Average. The main intraday target is the next resistance at 1.2935 - 1.2957. If a pullback from this area happens next, there'll be time for a decline towards 1.2851 - 1.2811.

24-8-2018-GBP-H1.png

We've got a 'Double Bottom', which has been confirmed enough. So, the market is likely going to continue moving up in the direction of another resistance at 1.2911 - 1.2957.

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