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 to test 34 Moving Average
2019-11-11 • Updated
There's a local 'V-Top' pattern, so the pair is likely going to achieve the closest support at 1.3888 - 1.3873 in the coming hours. A pullback from this area could be a starting point for a bullish correction towards the nearest resistance at 1.3982 - 1.4009.
It's likely that the pair is going to test the 34 Moving Average in the short term. Meanwhile, if a pullback from this line happens little later on, there'll be an opportunity to have another decline in the direction of the next support at 1.3912 - 1.3888.
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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