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 "Flag" pattern
2019-11-11 • Updated
There's a bullish "Flag", so the market is likely going to test the next resistance at 1.3996 - 1.4069. This area could be a starting point for a decline towards another support at 1.3928 - 1.3888.
The price is still consolidating in a range of the developing "Flag" pattern. Also, there's a pullback from the Moving Averages, so the pair is likely going to test the closest resistance at 1.3996 - 1.4023 in the short term.
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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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