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 between Moving Averages
2019-11-11 • Updated
There's a 'Thorn' pattern, so the price is consolidating between the Moving Averages. Nevertheless, the pair is likely going to test the nearest resistance at 1.3027 once again. A pullback from this level could be a departure point for a downward correction.
We've got a 'V-Bottom', which has been formed on the Moving Averages. Previously, we had a 'Pennant' pattern. So, it's likely that the market is going to reach the closest significant resistance at 1.3006 within the next few hours.
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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