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: "Exhaustion Gap"
2019-11-11 • Updated
The 55 Moving Average has acted as resistance, so we've got a "V-Top" pattern on this line. Therefore, bears are likely going to test the nearest support at 1.2853 - 1.2831 in the short term. If a pullback from this area happens, bulls will have a green light to reach the 89 MA.
There's an "Exhaustion Gap", so we've got a "V-Top" pattern, which led to a decline. However, the last high is likely going to be tested during the day. Meanwhile, we should keep an eye on the next support at 1.2853 - 1.2848 as an intraday target.
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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