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: bulls going to deliver new high
2019-11-11 • Updated
There’s a “Double Bottom”, which has been confirmed. Therefore, the pair is likely going to reach the nearest resistance at 1.2595 – 1.2614 in the short term. So, we could have a new high soon. At the same time, bulls will probably try to test a support at 1.2547 – 1.2522 afterwards.
Bulls faced a resistance at 1.2552, so the price is consolidating. In this case, we should keep an eye on the nearest support at 1.2529 – 1.2522 as an intraday target. If a pullback from this area happens, the price is likely going to reach the next resistance at 1.2595 – 1.2614.
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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