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: pair consolidating under Moving Averages
2019-11-11 • Updated
The market is still consolidating under Moving Averages. It's likely that the pair is going to test the next support at 1.3457 - 1.3419 soon. Meanwhile, a pullback from this area could be a starting point for a bullish correction.
There's a consolidating, which is taking place between the levels 1.3457 - 1.3612. Also, there's a 'Double Top', which has been formed on the 89 Moving Average. So, the price is likely going to achieve the nearest support at 1.3450 - 1.3419 in the coming hours.
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.
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