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' points to correction
2019-11-11 • Updated
There's a 'Double Top' pattern, which has been confirmed, so the market is likely going to test the nearest support at 1.3042 - 1.3032 in the coming hours. If a pullback from this area happens little later on, there'll be time for another upward price movement towards the next resistance at 1.3114 - 1.3146.
We've got a 'Triple Top', which has formed at the last high. The main intraday target is the closest support at 1.2999 - 1.2957. The subsequent pullback from these levels could lead to the beginning of a bullish rally towards 1.3094 - 1.3109.
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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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!