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 have been broken
2019-11-11 • Updated
The main trend is still bullish, but the last 'Thorn' pattern led the current decline. So, the pair is likely going to test the closest support at 1.4144 - 1.4119, which could be a starting point for an upward price movement in the direction of the nearest resistance at 1.4243 - 1.4262.
All the Moving Averages have been broken. The main bearish target is the next support at 1.4144 - 1.4119. If a pullback from these levels happens little later on, there'll be an opportunity to have a bullish price movement towards another resistance at 1.4230 - 1.4243.
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.
As warned over the past few days, gold is not in a position to keep on rising. Yesterday gold managed to rise all the way to $1,916.
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