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: flat near broken trend line
2019-11-11 • Updated
There's a consolidation, which is taking place near the broken trend line. It's likely that the pair is going to test the Moving Averages. If a pullback from these lines happens little later on, there'll be a moment to have another decline.
We've got a "Double Bottom" pattern, so the market is likely going to test the nearest resistance at 1.3856 - 1.3875. However, if we see a pullback from this area, bears will probably try to reach the next support at 1.3741 - 1.3692.
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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