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' pattern, so the pair is moving up. The main intraday target is the next resistance area at 1.3013 - 1.3032. Meanwhile, if a pullback from these levels happens next, bears will probably try to reach the closest support at 1.2927.
It's likely that there's a 'Flag' pattern. In this case, we should keep an eye on the nearest support at 1.2930 as a possible departure point for another advance. Thus, the subsequent pullback from this level in the coming hours could lead to a bullish price movement towards the last 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.