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: bullish 'Engulfing' pattern
2019-11-11 • Updated
The lower 'Window' and the 55 Moving Average have acted as support, so there's a bullish 'Engulfing' pattern. At the same time, there's a bearish 'Harami', which hasn't been confirmed yet. In this case, we should watch the 144 Moving Average as the nearest bearish target. If a pullback from this line happens next, bulls will probably try to reach another resistance at 1.3521.
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.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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