Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and awaited a breakthrough in stimulus talks in Washington.
GBP/USD: pair declining since triangle was broken
2019-11-11 • Updated
The pair has been declining since the triangle's lower side was broken. The main intraday target is the next support at 1.2957 - 1.2932. This area could be a starting point for an upward correction in the direction of the nearest resistance at 1.3032 - 1.3047.
The market is declining because of the last 'V-Top'. Nevertheless, it's likely to have a bullish correction soon, so we should keep on track the closest resistance at 1.2994 - 1.3015 as an intraday target. If we have a pullback from these levels, bears will probably try to test another support at 1.2957 - 1.2932.
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
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