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 next resistance
2019-11-11 • Updated
The pair is consolidating between the levels 1.3081 - 1.2957. It's likely that the market is going to test the next resistance at 1.3102 in the short term. A pullback from this level could be a starting point for a decline in the direction the nearest support at 1.3027 - 1.2982.
It seems like there's a 'Flag' pattern, which is almost formed. So, the price is likely going to reach another resistance at 1.3081 - 1.3102. If a pullback from this area happens next, there'll be an opportunity to have a downward correction towards the Moving Averages.
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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