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" stopped bulls
2019-11-11 • Updated
Bulls faced a resistance at 1.2945, so we’ve got a “Double Top”, which has been confirmed by the last “Exhaustion Gap”. Therefore, the pair is likely going to decline in the direction of the closest support at 1.2865 – 1.2816. If bears be stopped here, there’ll be an opportunity to have another bullish price movement towards a resistance at 1.2865 – 1.2913.
We’ve got a “Double Top” pattern, which has been confirmed. However, the price faced a support at 1.2900, so bulls are likely going to test the nearest resistance at 1.2935 – 1.2952. If a pullback from this area happens, bears will probably try to reach the closest support at 1.2865 – 1.2844.
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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