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 support
2019-11-11 • Updated
There's a consolidation, which is taking place between the levels 1.3278 - 1.3213. Also, we've got a bearish "Double Top", so the pair is likely going to test the closest support at 1.3201 - 1.3182 in the short term. If we have a pullback from these levels, there'll be an opportunity to have another upward price movement towards the next resistance at 1.3278 - 1.3298.
The price is consolidating between the levels 1.3278 - 1.3213. The 34 Moving Average has acted as support, so the market is likely going to test the nearest resistance at 1.3246 - 1.3266. Meanwhile, if we see a pullback from this area, bears will probably try to test the closest support at 1.3186 - 1.3179.
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.
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