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 could gather demand soon
2019-11-11 • Updated
GBP/USD has been riding a bearish sequence in the short-term, according to our H1 chart projection. Currently, the pair is finding dynamic support in the 200 SMA, which also coincides with the demand zone established between the 1.3039 and 1.2970 levels across the board. If the pair does a rebound over there, we can expect further strength towards the -23.6% Fibonacci level around 1.3374.
RSI indicator is still at the negative territory, favoring for more declines in coming hours.
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