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Consolidating in up-trend

Consolidating in up-trend | 04 December 2013

04 December 2013, GBP/USD

GBP/USD is consolidating in an up-trend. It has started to form a range between 1.6340 and 1.6440 and will probably continue moving sideways within that range. Eventually, however, the dominant short-term bull-trend is expected to resume and take the pair higher, particularly if there is a break above 1.6455. The next target would be at resistance at 1.6550, followed by 1.6680, generated by taking the bullish count calculated using the column at the base of the pull-back on the 26th November.
Consolidating in up-trend
Mark Satcher
Analyst of «FreshForex» company
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