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 test next resistance
2019-11-11 • Updated
The pair is consolidating along the 55 Moving Average, so bulls are likely going to achieve the closest resistance at 1.2964 - 1.2995. As a result, the last high is going to be broken, but there's also an opportunity to have a bearish correction afterwards.
There's a consolidation, which is taking place between resistance at 1.2955 and support at 1.2883. Therefore, the market is likely going to reach the next resistance at 1.2964 - 1.2988 in the coming hours. If a pullback from this level happens, bears will have a chance to test support at 1.2901 - 1.2883.
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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