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: all Moving Averages broken
2019-11-11 • Updated
All the Moving Averages have been broken. It's likely that the price is going to test the next support at 1.2844 - 1.2763. However, if a pullback from this level happens next, bulls will probably try to reach the closest resistance at 1.2880 - 1.2911.
The last 'Pennant' has been broken, so the price is likely going to reach the nearest support at 1.2844 - 1.2763. This area could be a departure point for an upward correction in the direction of another resistance at 1.2880 - 1.2911.
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.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
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Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.