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: confirmed 'Double Bottom'
2019-11-11 • Updated
The main trend is still bullish. Also, there's a 'Double Bottom' pattern, which has been formed between the Moving Averages. In this case, the market is likely going to test the next resistance at 1.4144, which could be a departure point for another decline.
We've got a confirmed 'Double Bottom', so the pair is likely going to achieve the nearest resistance at 1.4095 - 1.4133 soon. Meanwhile, if a pullback from this area happens afterwards, there'll be a moment to have a decline in the direction of the closest support at 1.4027 - 1.3982.
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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