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!
GBP/JPY may be forming correction
2019-11-11 • Updated
GBP/JPY has been testing the support at 136.60. A break below this level will provoke a decline to 135.90. However, it seems like the correction has been forming. On the daily chart, MACD and Stochastic Oscillator have formed a bullish divergence with the chart. RSI (8) is in the oversold area. It means that the recovery may happen soon. If the pair sticks above 136.60, odds of the rise towards 138.14 will increase. If the pair falls below 136.60, the rebound may occur from 135.90.
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!