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 to continue moving down
2019-11-11 • Updated
The market is consolidating between the levels 1.3471 - 1.3344. It's likely that the pair is going to continue moving down in the short term. The main intraday target is the next support at 1.3300 - 1.3253.
The last 'Double Top' pattern led to the current decline. All the Moving Averages have been broken. However, there's an opportunity to have an upward correction towards the closest resistance at 1.3344 - 1.3354.
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.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?