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 'V-Top'
2019-11-11 • Updated
The market has plunged because of the last 'V-Top' pattern. The main intraday target is the next support at 1.2830 - 1.2796. A pullback from this area could lead to an upward correction towards the nearest resistance at 1.2921 - 1.2953.
All the Moving Averages have been broken, so the price is declining. It's likely that the pair is going to test the closest important support at 1.2830 - 1.2796 within the next few hours. If a pullback from these levels happens little later on, there'll be a green light for a bullish correction.
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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