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: "Pennant" pattern
2019-11-11 • Updated
The price is consolidating along the 34 Moving Average. Considering that there's a "Double Top" pattern, the market is likely going to test the closest support at 1.3336. If a pullback from this level happens little later on, we could have an upward price movement towards the next resistance at 1.3430 - 1.3454.
There's a "Pennant" pattern, so the pair is likely going to test the nearest support at 1.3336. However, if we have a pullback from this level, there'll be an opportunity to have a bullish price movement in the direction of the closest resistance at 1.3408 - 1.3430.
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.
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