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 the nearest resistance
2019-11-11 • Updated
Bears faced support at 1.2839, so the pair is consolidating. In this case, it's likely that the market is going to test the nearest resistance at 1.2930 - 1.2953. The following pullback from this area could lead to another decline in the direction of the next support at 1.2852 - 1.2830.
The market is consolidating between the levels 1.2921 - 1.2830. The main intraday target is the next support at 1.2866 - 1.2852. If a pullback from these levels happens next, bulls will probably try to reach another resistance at 1.2930 - 1.2953.
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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