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 Top" led to massive decline
2019-11-11 • Updated
The last “Double Top” pushed the price to a support at 1.2382. At the same time, bears are likely going to test the next support at 1.2347 – 1.2323 in the short term. If we see a pullback from this area, there’ll be a chance to have a bullish correction towards a resistance at 1.2438 – 1.2468.
The price faced a support at 1.2382, so the price is consolidating. Nevertheless, the market is likely going to reach the nearest support at 1.2334 – 1.2323 during the day. If a pullback from these levels be on the table, bulls will have an opportunity to reach a resistance at 1.2438.
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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