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' pushing price higher
2019-11-11 • Updated
There's a 'Double Bottom', which pushed the price higher. The main intraday target is the next resistance at 1.3032 - 1.3047. If we have a pullback from this area, there'll be an opportunity to have a bearish correction towards the closest support at 1.2911 - 1.2880.
The market is consolidating above the Moving Averages. It's likely that the pair is going to test the nearest support at 1.2880. Meanwhile, if a pullback from this level forms little later on, bulls will probably try to deliver another local high.
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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