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" pattern
2019-11-11 • Updated
We've got a bearish "Flag" pattern, so the market is likely going to reach the next support at 1.2830 - 1.2811 in the short term. At the same time, bulls will probably try to achieve the nearest resistance at 1.2892 - 1.2911 afterwards.
The price is consolidating near the 34 Moving Average. Also, there's a possible "Flag", so the price is likely going to test the upper side of this pattern. If a pullback from the closest resistance at 1.2911 - 1.2926 happens, there'll be an opportunity to have a decline towards another support at 1.2930 - 1.2811.
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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