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 in a range of 'Triangle'
2019-11-11 • Updated
The pair is still consolidating in a range of a possible 'Triangle' pattern. The main intraday target is the 89 Moving Average, which could be a starting point for a decline towards another support at 1.2877 - 1.2851.
There's a 'V-Bottom', so the market is likely going to reach the next resistance at 1.2924 - 1.2935 in the short term. If a pullback from the area happens afterwards, there'll be a moment to have a decline in the direction of the closest support at 1.2860 - 1.2851.
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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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