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-Top' pattern
2019-11-11 • Updated
There's another 'V-Top' pattern, which has been confirmed, so the pair is going to test the nearest support at 1.2684 - 1.2661. In this case, we could have a new local low within the next few hours. If a pullback from the target area happens little later on, there'll be a moment for an upward correction towards 1.2763 - 1.2784.
The pair is consolidating under the Moving Averages. It's likely that the market is going to achieve the closest resistance at 1.2755 shortly. Meanwhile, the subsequent pullback from this level could lead to a decline in the direction of the next support at 1.2684 - 1.2671.
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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