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 going to test nearest support
2019-11-11 • Updated
We've got a "V-Bottom" pattern, so the price reached the 89 Moving Average. In this case, we could have an upward price movement towards the nearest support area at 1.2891 - 1.2877. If a pullback from these levels arrives little later on, bulls are likely going to test another resistance at 1.2958 - 1.2989.
Bulls reached resistance at 1.2942, so there's a "Double Top" pattern. Therefore, the pair is likely going to achieve the nearest support at 1.2891 - 1.2877. Meanwhile, if a pullback from this area happens, we should keep an eye on the closest resistance at 1.2942 - 1.2958 as an intraday target.
Similar
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.
Latest news
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone