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
The main trend is still bullish. Also, there's a 'Double Bottom' pattern, which has been confirmed. Therefore, bulls are likely going to test the next resistance area at 1.4144 - 1.4199 in the short term. A pullback from these levels could be a starting point for a decline towards the closest support at 1.4069 - 1.4027.
All the Moving Averages have been broken, so the price is consolidating. It's likely that the market is going to test the Moving Averages during the day. Meanwhile, if we see a pullback from these lines, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.4144 - 1.4171.
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.
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