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 downtrend line broken
2019-11-11 • Updated
The local downtrend line has been broken. In this case, the pair is likely going to achieve the nearest resistance at 1.3612 - 1.3656, which could be a departure point for a downward price movement in the direction of the closest support at 1.3493 - 1.3457.
The 55 Moving Average has acted as resistance, so there's a local 'V-Top' pattern. Despite that, if we have a pullback from the next support at 3498 - 1.3493 in the coming hours, there'll be a green light for a bullish rally.
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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