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: bearish correction on the way
2019-11-11 • Updated
We’ve got a “V-Top”, so the price is consolidating. In this case, the pair is likely going to reach the nearest support at 1.2774 – 1.2727 in the short term. If we see a pullback from this area, there’ll be an opportunity to have a new high shortly.
The price is consolidating between the levels 1.2865 – 1.2774. The 34 Moving Average is likely going to act as a support during the day. If a pullback from this line happens, bulls will have a chance to reach a resistance at 1.2900 – 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.
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