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-Top' pattern
2019-11-11 • Updated
There's a local 'V-Top' pattern, so the market is likely going to test the closest support at 1.3873 - 1.3856. Meanwhile, if a pullback from this area happens little later on, bulls will probably try to achieve another resistance at 1.3964 - 1.3982.
The price is consolidating near the 34 Moving Average. It's likely to have a local correction during the day. Even so, bears are likely going to deliver a new local low afterwards.
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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