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: another 'V-Bottom' pattern
2019-11-11 • Updated
There's another 'V-Bottom' pattern, so the price is consolidating. Even so, we're likely going to have a new local low soon. In this case, we should watch the nearest support at 1.2695 - 1.2661 as an intraday target. The subsequent pullback from this area could lead to an upward correction.
We've got a 'Double Bottom', but the market is moving sideways. It's likely that the pair is going to reach another support at 1.2711 - 1.2695 in the coming hours. If a pullback from this area formes next, there'll be time for a bullish correction.
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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Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
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