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 is consolidating
2019-11-11 • Updated
Bears faced with resistance at 1.3244, so the pair is consolidating. The main intraday target is the next resistance at 1.3297 - 1.3314. A pullback from this area could be a starting point for a bearish correction to 1.3244 - 1.3216.
It seems like there's a triangle pattern. If so, the market is likely going to continue moving up in the coming hours. In this case, we should keep an eye on the nearest resistance at 1.3314, which could lead to a downward correction.
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.
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