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: local bearish 'Thorn' pattern
2019-11-11 • Updated
It seems like there's a developing 'Rising Wedge' pattern. However, the price is likely going to test the nearest support at 1.2606 - 1.2588. If a pullback from this area happens next, bulls will probably try to achieve the next resistance at 1.2695 - 1.2725.
There's a local bearish 'Thorn' pattern, so the market is likely going to reach the closest support at 1.2606 - 1.2588 in the coming hours. The subsequent pullback from these levels could lead to an upward price movement in the direction of another resistance at 1.2695 - 1.2705.
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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