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 'Rising Wedge' pattern
2019-11-11 • Updated
There's a developing 'Rising Wedge' pattern. It's likely that the market is going to test the next resistance at 1.3172 - 1.3216 soon. If a pullback from this area happens next, there'll be a moment to have a bearish correction towards the nearest support at 1.3123 - 1.3102.
The market is consolidating above the Moving Averages. It's likely that the pair is going to reach another resistance at 1.3172 - 1.3216 within the next few hours. This area could be a starting point for a decline in the direction of the Moving Averages.
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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