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: Moving Average waiting for bears
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.
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.
Welcome to October, the tenth month of 2023. For this installment of What to Trade, I have handpicked a few of my favorite trade ideas for the month. Let’s go over a few of them.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.