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: "Double Bottom" confirmed by "Flag"
2019-11-11 • Updated
We've got a "Double Bottom", which has been confirmed. Bulls faced resistance at 1.2793, but the market is likely going to rise even higher, so we should keep an eye on the next resistance at 1.2830 - 1.2845 as an intraday target. At the same time, if we see a pullback from this area, there'll be an opportunity to have a decline towards the closest support at 1.2793 - 1.2768.
The last "Double Bottom" has been confirmed by the "Flag" pattern. So, the market is likely going to reach the next resistance at 1.2829 - 1.2845 in the coming hours. If we have a pullback from this area, bears will have a green light to test a support at 1.2793 - 1.2768.
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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