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
There's a "Double Top", but the price is consolidating. It's likely that bears are going to reach the nearest support at 1.3374. Meanwhile, if we have a pullback from this level, bulls will probably try to reach the closest resistance afterwards.
The 55 Moving Average has acted as support, so the price is consolidating. Also, we've got a developing bearish "Flag" pattern. In this case, bulls are likely going to test the nearest resistance at 1.3532 - 1.3550. If a pullback from these levels arrives later on, there'll be an opportunity to have a bearish price movement towards the 89 Moving Average.
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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