GBP/USD: bears going to test nearest support

GBP/USD: bears going to test nearest support

2019-11-11 • Updated

GBP/USD: bears going to test nearest support

There’s a consolidation, which is taking place on the four-hours chart. Moreover, we’ve got a “Double Top”, which has been confirmed. So, the market is likely going to decline towards the 34 Moving Average, which could be a departure point for an upward price movement in the direction of a resistance area at 1.2913 – 1.2945.

GBP/USD: bears going to test nearest support

We’ve got a “Double Top”, which has been confirmed by the last “Pennant”. The 89 Moving Average is acting as a support. Nevertheless, the price is likely going to reach a support at 1.2844 – 1.2816. If a pullback from these levels happens, there’ll be a chance to have a bullish movement towards a resistance at 1.2865 – 1.2880.  

Similar

Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

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 Near Supply Zone
GBP/USD Near Supply Zone

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.

Gold: a risk of selling
Gold: a risk of selling

As warned over the past few days, gold is not in a position to keep on rising. Yesterday gold managed to rise all the way to $1,916.

Latest news

Gold and the Majors ahead of the NFP
Gold and the Majors ahead of the NFP

Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.

The Oil Market in the Month of June
The Oil Market in the Month of June

Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.

Gold’s Next Move Could Be Huge!
Gold’s Next Move Could Be Huge!

Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera