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 acting as support
2019-11-11 • Updated
We've got a 'V-Top', which has been formed between the Moving Averages. Also, there's an opportunity to have a 'Diamond' pattern. In this case, we're likely going to have a decline towards the closest support at 1.3344 - 1.3300.
The pair is consolidating between the levels 1.3473 - 1.3380. The 34 Moving Average is acting as support. So, it's likely to have an upward correction in the short term. If a pullback from the nearest resistance at 1.3419 - 1.3450 happens next, there'll be time for another decline.
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.
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