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 party
2019-11-11 • Updated
The last wedge has been broken, so there was a massive bullish rally. Finally, the price faced a resistance at 1.2911, so we’ve got a “V-Top” pattern here. In this case, the pair is likely going to achieve the nearest support at 1.2774 – 1.2727. If we see a pullback from this area, there’ll be an opportunity to have another upward price movement towards the next resistance at 1.2911 – 1.3023.
There’s a “V-Top” pattern, so the price reached a support at 1.2816. However, bears are likely going to test the next support at 1.2774 – 1.2727 during the day. If a pullback from these levels happens, bulls will probably try to deliver a new local high.
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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