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 Top'
2019-11-11 • Updated
There's a 'V-Top' pattern, which has been confirmed, so it's likely that the market is going to test the nearest support at 1.3146 - 1.3114. If a pullback from this area happens little later on, bulls will probably try to reach the next resistance at 1.3216 - 1.3235, so we could have a new local high shortly.
We've got a confirmed 'Double Top', which means there's a green light for a downward correction. The main intraday target is the closest support at 1.3149 - 1.3109. The subsequent pullback from these levels could lead to another bullish rally in the direction of 1.3216 - 1.3235.
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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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!