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: consolidation along MA
2019-11-11 • Updated
All the Moving Averages have been broken. Meanwhile, it's likely that the pair is going to test the nearest resistance at 1.4011 - 1.4066. If a pullback from these levels happens afterwards, we could have a bearish price movement in the direction of another support at 1.3915 - 1.3835.
The price is consolidating along the Moving Averages. The main intraday target is the closest support at 1.3930, which could be a departure point for a bullish price movement towards the nearest resistance at 1.4011 - 1.4048.
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.
A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone
The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances