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 made a stop
2019-11-11 • Updated
BUY 1.3610 SL 1.3555 TP1 1.3675 TP2 1.381 TP3 1.3920
SELL 1.3455 SL 1.351 TP1 1.3355 TP2 1.3255 TP3 1.3180
On the daily chart, GBP/USD after reaching 127.2% target of the “Shark” consolidated in the 1.3455-1.3610 area. A break of its upper border will increase the risks of a correction to 23.6%, 38.2% and 50% of the wave CD in line with the transformation of the “Shark” into 5-0. On the other hand, a successful test of support at 1.3455 will open the way down to 88.6% of the “Double top”.
On H1, GBP/USD bears took the initiative in their hands after the formation of a “Broadening wedge”.
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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