GBP/USD has
been consolidating sideways for over a month now and briefly it looked like the
consolidation may have ended as the pair broke out above the last high at
1.3337 and continued moving to the upside towards 1.3382. However, despite
forming a new high GBP/USD, bounced off from the aforementioned level and formed
a shooting star candlestick below it on the daily time-frame , then,
unsurprisingly, continued falling. Currently the pair is back at the support at
1.3220. A breakout below that support will probably lead to a further move to
the downside towards the next support which is at 1.3140 and coincides with the
(MA)89 indicator on the daily time-frame.
It's moving north again.
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