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 falling inside intermediate impulse wave (3)
2019-11-11 • Updated
- GBP/USD falling inside intermediate impulse wave (3)
- Next sell target - 1.2750
GBP/USD continues to fall inside the intermediate impulse wave (3), which started earlier from the strong resistance zone lying between the round resistance level 1.3000 (which also stopped the previous primary ABC correction ② in the middle of May) and the upper daily Bollinger Band. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Evening Star. Given the overbought daily Stochastic - GBP/USD is expected to fall to the next sell target at the next support level 1.2750.
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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