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 to deliver new local high
2019-11-11 • Updated
The price is consolidating along the 55 Moving Average. So, the market is likely going to test the next resistance at 1.2945 - 1.2964. However, if a pullback from these levels happens, we could have a correction, so we should keep an eye on support at 1.2865 - 1.2816 as a bearish target.
As we can see on the one-hour chart, the pair is moving up and down between resistance at 1.2945 and support at 1.2883. It's likely that the price is going to test the closest resistance at 1.2955 - 1.2964 in the coming hours. At the same time, if we have a pullback from this area, bears will probably try to achieve support at 1.2863 - 1.2843.
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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