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: market is consolidating
2019-11-11 • Updated
We've got a 'V-Top', so the market is consolidating. It's likely that the pair is going to reach the closest resistance at 1.3291 - 1.3314. This area could be a starting point for a decline towards the 34 Moving Average.
There's a 'V-Bottom', so the market is likely going to test the nearest resistance at 1.3314 in the coming hours. Meanwhile, if a pullback from this level forms little later on, bears will probably try to reach the next support at 1.3222.
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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