GBP/USD: price going to go around in a circle
2/17/2017
Bulls faced a resistance at 1.2509, so the price is consolidating. Meanwhile, the market is likely going to reach the next resistance at 1.2548 – 1.2581. However, if we see a pullback from this area, there’ll be an option to have a downward price movement towards a support at 1.2465 – 1.2432.
All Moving Average have been broken. In this case, bulls are likely going to test the closest resistance at 1.2538 – 1.2548 in the short term. If a pullback from these levels arrives afterwards, bears will have a green light to reach a support at 1.2509 – 1.2486.
More:
https://new.fxbazooka.com/analytics/12530