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 test the next resistance
2019-11-11 • Updated
Bulls faced with resistance at 1.3344, so there's a 'V-Top' pattern. Nevertheless, the pair is going to test the next resistance at 1.3380 in the short term. If we see a pullback from this level, there'll be time for another decline.
We've got a 'V-Bottom', so the market is going to reach the nearest resistance at 1.3363 - 1.3377 in the short term. Even so, if a pullback from this area happens next, bears will probably try to deliver a decline towards the last low.
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.
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?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.