Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
EUR/GBP reversed from support zone
2019-11-11 • Updated
- EUR/GBP reversed from support zone
- Next buy target - 0.8900
EUR/GBP recently reversed up from the major support zone lying between the support level 0.8740 (which has been reversing the pair from the middle of June), lower daily Bollinger Band and the 61.8% Fibonacci retracement of the previous extended upward impulse from May. The upward reversal from this support zone started the active minor impulse wave C. EUR/GBP is expected to rise to the next buy target at the next resistance level 0.8900 (top of the previous wave A).
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Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
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