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
There's a "V-Bottom" pattern, so the pair is likely going to reach the closest resistance area at 1.3856 - 1.3915. If a pullback from these levels happens afterwards, we could have a decline in the direction of the next support at 1.3741 - 1.3711.
Bears faced with support at 1.3692, so there's a "Double Bottom" pattern. In this case, the price is likely going to achieve the nearest resistance at 1.3856 - 1.3875. Meanwhile, this area could be a departure point for a decline towards another support at 1.3741 - 1.3692.
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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