Consolidation under the Moving Averages on GBPUSD

The pair is consolidating between the levels 1.3047 - 1.3114. The 34 Moving Average has acted as support, but there's no any bullish pattern so far. In this case, the price is likely going to reach the 89 Moving Average in the coming hours. The subsequent pullback from this line could lead to another bullish rally.

There's consolidation, which is taking place under the Moving Averages. The main intraday target is the next support at 1.2999 - 1.2971. If a pullback from these lines happens little later on, bulls will probably try to test the closest resistance at 1.3072, which is near the Moving Averages.

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