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 support
2019-11-11 • Updated
There's a 'V-Top' pattern, which has been confirmed. However, there's a local downward correction is taking place, so we should watch the nearest resistance at 1.3174 - 1.3193 as an intraday target. The subsequent pullback from this area could lead to another decline towards the next support at 1.3047 - 1.3032.
The 89 Moving Average has acted as support, so the price is rising. The main intraday target is the closest resistance at 1.3174 - 1.3193. If a pullback from these levels happens in the coming hours, bears will probably try to deliver a new local low.
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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