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: 55 MA acted as support
2019-11-11 • Updated
We've got a "V-Top" pattern, which pushed the price to support at 1.3190. Therefore, the market is likely going to reach the nearest resistance at 1.3129 - 1.3249. If a pullback from this area happens, there'll be an opportunity to have a decline towards the next support at 1.3190 - 1.3159.
The 55 Moving Average has acted as support, so the price is consolidating. In this case, bulls are likely going to test the closest resistance at 1.3227 - 1.3249. However, if we see a pullback from this area, bears will probably try to achieve another support at 1.3186 - 1.3159.
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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