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 "Flag"
2019-11-11 • Updated
There's a consolidation, which is taking place on the four-hours chart. Moreover, we've got a "Flag", so bears are likely going to test support at 1.2755 - 1.2705 in the short term. Meanwhile, if a pullback from these levels happens, we should keep an eye on resistance at 1.2816 - 1.2843 as an intraday target.
The Moving Averages have acted as resistance, so we've got a "Triple Top" pattern, which pushed the price towards support at 1.2793. If this level is broken, bears are likely going to reach the closest support at 1.2755 - 1.2705.
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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