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 pattern to form
2019-11-11 • Updated
There's a 'V-Top' pattern, so the price is consolidating. However, it's likely to have a bullish pattern soon. In this case, we should watch the nearest resistance at 1.2588 as an intraday target. The subsequent pullback from this level could be a starting point for a decline towards the next support at 1.2432 - 1.2402.
The price has tested the closest support three times, so it's likely that the market is going to reach the next resistance at 1.2543 - 1.2562 shortly. If a pullback from this area happens little later on, there'll be a moment for a decline towards 1.2472 - 1.2432.
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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