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 plunged because of 'Triple Top'
2019-11-11 • Updated
The market has plunged because of the last 'Triple Top' pattern. Also, there's a 'V-Bottom', so we could have an upward correction in the short term. Even so, bears are likely going to test the next support at 1.2695 - 1.2661 little later on. The following pullback from this area could lead to forming a bullish correction.
There's a 'V-Bottom' pattern, so the pair is likely going to reach the closest resistance at 1.2784 - 1.2852 during the day. If a pullback from these levels happens next, there'll be a green light for another decline in the direction of the nearest support at 1.2728 - 1.2695.
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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