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/USD: 34 Moving Average acted as resistance
2019-11-11 • Updated
There's a bullish 'Thorn', so we've got a local upward correction, which is about to end. In this case, the nearest support at 1.2665 - 1.2661 is likely going to be tested again. If a pullback from this area forms little later on, there'll be a moment to have a bullish correction towards the next resistance at 1.2722 - 1.2773.
The 34 Moving Average has acted as resistance, so we've got a 'V-Top' pattern. In this case, the market is likely going to reach the closest support at 1.2665 - 1.2661 shortly. A pullback from these levels could be a departure point for an upward correction.
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
Discover the outlook for EUR/USD, EUR/GBP, and GBP/USD.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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