
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!
2019-11-11 • Updated
The price faced a support at 1.2506, so there’s a consolidation, which is taking place on the four-hours chart. Therefore, the pair is likely going to test the 34 Moving Average, which could be a departure point for an upward correction towards a resistance at 1.2595 – 1.2614.
The 34 Moving Average has acted as a support, so the price is consolidating. In this case, bears are likely going to reach the 55 Moving Average during the day. If a pullback from this line be on the table, there’ll be an opportunity to have a new local high. The main bullish target is a resistance at 1.2573 – 1.2595.
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 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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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