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 55 Moving Average has acted as support, so there's a "V-Bottom" pattern, which pushed the price a little bit higher. Under this circumstances, we should keep an eye on resistance at 1.3023 - 1.3057 as the next bullish target. Meanwhile, if a pullback from this area happens, we could have a downward correction towards support at 1.2945 - 1.2913.
Bulls found support at 1.2883, so we've got a "V-Bottom" pattern, which led to the current consolidation. Therefore, bears are likely going to get support on the 89 Moving Average, which could be a departure point for another upward price movement in the direction of the next resistance at 1.2988 - 1.3023.
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.
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