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 "Rectangle" pattern
2019-11-11 • Updated
The price is still consolidating between the levels 1.3652 - 1.3444. It seems like bears are going to test the next support at 1.3479 - 1.3444. However, if a pullback from this area happens later on, bulls will probably try to reach the nearest resistance at 1.3618 - 1.3625.
There's a possible developing "Rectangle" pattern, so the price is likely going to achieve the nearest support at 1.3444. Meanwhile, if we have a pullback from this level, we could have a bullish correction towards the closest resistance at 1.3618 - 1.3625.
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.
Intraday and swing scenarios based on price action and volume profile.
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