GBP/USD: pair consolidating under Moving Averages

GBP/USD: pair consolidating under Moving Averages

2019-11-11 • Updated

18-12-2018-GBP-H4.png

The pair is consolidating under the Moving Averages. Also, there's a 'V-Bottom', which has been confirmed, so the market is likely going to test the closest resistance at 1.2658 - 1.2695. The subsequent pullback from this level could lead to another decline towards the next support at 1.2588 - 1.2514.

18-12-2018-GBP-H1.png

There's consolidation, which is taking place between the 89 and 34 Moving Averages. At the same time, there's a 'Pennant' pattern, so we should watch the nearest resistance at 1.2671 - 1.2686 as an intraday target. If a pullback from this area happens little later on, there'll be a moment to have a decline in the direction of 1.2588 - 1.2562.

Similar

Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

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 Near Supply Zone
GBP/USD Near Supply Zone

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.

Latest news

CAD: Markets Await GDP Release
CAD: Markets Await GDP Release

During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera