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: developing "Flag"
2019-11-11 • Updated
The 55 Moving Average is acting as a support. However, there isn’t any reversal pattern so far. In this case, the price is likely going to reach a support at 1.2402 – 1.2376. If bears be stopped here, there’ll be an opportunity to have an upward price movement in the direction of the 34 Moving Average.
There’s a consolidation, which is taking place under Moving Averages. Also, we’ve got a “Pennant”, which is likely going to be transformed into a “Flag”. The main bearish target is a support at 1.2402 – 1.2397.
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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