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: bears going to test nearest support
2019-11-11 • Updated
The price is consolidating along the 55 Moving Average. It's likely that the pair is going to test support at 1.2945 - 1.2913 in the short term. However, if we see a pullback from these levels, bulls will probably try to reach resistance at 1.2995 - 1.3023.
There's a consolidation, which is taking place under resistance at 1.2988. The 34 Moving Average is acting as support. In this case, the market is likely going to decline towards the 89 Moving Average. If a pullback from this line happens, we should keep an eye on the next resistance at 1.2988 - 1.3023 as an intraday target.
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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