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 under the 'Rising Wedge'
2019-11-11 • Updated
The price is still consolidating under the 'Rising Wedge' pattern's lower side. It's likely that the pair is going to test the next support at 1.2728 - 1.2695. The subsequent pullback from this area could be a starting point for a bullish price movement towards the nearest resistance at 1.2826 - 1.2852.
There's a consolidation, which is taking place under the Moving Averages. The main intraday target is the nearest support at 1.2723 - 1.2695. If a pullback from these levels happens little later on, bulls will probably try to reach the previously tested resistance at 1.2826.
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.
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