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 "Double Top", which has been confirmed, so bears found support at 1.2926. Therefore, the pair is likely going to decline in the direction of the nearest support at 1.2887. However, if a pullback from this level happens, bulls will probably try to achieve the next resistance at 1.2964 - 1.2976.
The price is consolidating between the 34 & 55 Moving Averages. So, bulls are likely going to reach the closest resistance at 1.2964 - 1.2976. If we have a pullback from this area, there'll be an option to have another decline towards support at 1.2926 - 1.2915.
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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