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: 'Flag' pattern
2019-11-11 • Updated
The price is consolidating between the 34 & 55 Moving Averages. Also, there's a 'Flag' pattern, so the pair is likely going to test the closest support at 1.3982 - 1.3228. Meanwhile, if a pullback from this area forms little later on, there'll be a moment for an upward price movement in the direction of the next resistance at 1.4096 - 1.4144.
There's a consolidation, which is taking place between the levels 1.4010 - 1.4096. It's likely that the pair is going to test the nearest resistance at 1.4069 - 1.4096. A pullback from these levels could be a starting point for a bearish price movement towards another support at 1.4027 - 1.4010.
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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?