Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and awaited a breakthrough in stimulus talks in Washington.
GBP/JPY: finished 'Flag' pattern
2019-11-11 • Updated
GBP/JPY is consolidating above the Moving Averages. Previously, we had a 'V-Bottom' pattern, which has been confirmed. Also, it seems like there's a finished 'Flag' pattern. If so, there's an opportunity to have an upward price movement towards the already tested resistance at 144.88. The subsequent pullback from this level could lead to a bearish correction in the direction of the nearest important support at 144.01.
The pair is testing the key pivot level at 74.40
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
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