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" pattern
2019-11-11 • Updated
The last "Double Bottom" pattern led to the current upward price movement. The main intraday target is the next resistance at 1.4149. Meanwhile, if we see a pullback from this area, there'll be a moment to have a downward correction.
Bulls have broken the last "Pennant" pattern, so the price is rising. It's likely to have a local bearish correction in the coming hours, but the market is likely going to test the nearest resistance at 1.4066 - 1.4100 afterwards.
Similar
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.
Latest news
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...