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 broke resistance area
2019-11-11 • Updated
- GBP/USD broke resistance area
- Next buy target - 1.3000
GBP/USD yesterday broke sharply above the resistance area lying between the pivotal resistance level 1.2700 (which has reversed numerous upward corrective waves from November, as can be seen below) and the 50% Fibonacci correction level of the previous sharp downward impulse from last September. The breakout of this resistance area accelerated the active impulse waves 3 and (C).
GBP/USD is expected to rise to the next buy target at the round resistance level 1.3000 (forecast price calculated for the completion of the active minor impulse wave 3).
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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