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 "Triangle"
2019-11-11 • Updated
The price is consolidating near the 89 Moving Average. Also, there are two bullish "Thorn" patterns in a row, so the pair is likely going to test the closest resistance at 1.3032 - 1.3047 in the coming hours. If a pullback from these levels happens little later on, there'll be an option to have a downward price movement towards the next support at 1.2982 - 1.2951.
We've got a "Triangle", so the price is likely going to test the lower side of this pattern in the short term. If a pullback from this level is on the table, bulls will probably try to achieve the nearest resistance at 1.3032 - 1.3047 shortly.
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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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