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: 89 Moving Average acted as resistance
2019-11-11 • Updated
The 89 Moving Average has acted as resistance, so there's a 'V-Top' pattern. In this case, the market is likely going to test the 34 MA shortly. A pullback from this line could be a starting point for an upward price movement towards the next resistance at 1.3216 - 1.3244.
We've got a 'Triple Top', so the market is likely going to test the Moving Averages. If we have a pullback from these lines next, there'll be a moment for another bullish rally in the direction of the next resistance at 1.3216 - 1.3244.
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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