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 "Pennant" pattern
2019-11-11 • Updated
Bulls faced resistance at 1.3057, so the price is consolidating. Meanwhile, the pair is likely going to achieve the next resistance at 1.3077 in the short term. If a pullback from this level happens, we should keep an eye on the nearest support at 1.3029 - 1.3006 as a bearish target.
There's a bullish "Pennant" pattern, so the price is likely going to reach the closest resistance at 1.3057 - 1.3077 in the coming hours. Considering a possible pullback from this area, there's an option to have a decline towards the Moving Averages afterwards.
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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