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
Bulls faced with resistance at 1.4331, so there's a "Double Top" pattern. Nevertheless, the market is likely going to achieve the next resistance at 1.4386 - 1.4433 soon. If a pullback from this area happens, we could have a bearish correction.
The 55 Moving Average has acted as support, so the price is consolidating. In this case, we should keep an eye on the closest support at 1.4129. Meanwhile, if we have a pullback from this level, there'll be an opportunity to have a bullish price movement towards the next resistance at 1.4327 - 1.4344.
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.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.
The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.
Even though we've only witnessed sluggish movements from the Dollar over the past few weeks, the general idea and bias still seem intact and untampered. The bullish impulse however can be seen as "searching for support".