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" pattern
2019-11-11 • Updated
All the Moving Averages have been broken, but bulls faced with resistance at 1.3311, so the price is consolidating. In this case, the 89 Moving Average is likely going to act as support. If so, there'll be an opportunity to have another upward price movement towards another resistance at 1.3336 - 1.3370.
There's a "Double Top" pattern, so the pair is likely going to get support on the 34 Moving Average during the day. If a pullback from this line happens little later on, bulls will probably try to reach the next resistance area at 1.3311 - 1.3336.
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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