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 'V-Bottom'
2019-11-11 • Updated
We've got a local 'V-Bottom', so the pair is likely going to test the 34 Moving Average in the short term. If a pullback from this line arrives little later on, bears will probably try to deliver a new local low.
The pair is rising because of the last 'V-Bottom' pattern. The main intraday target is the nearest resistance at 1.3363 - 1.3377. So, if we have a pullback from these levels, there'll be time for another bearish 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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