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 led to decline
2019-11-11 • Updated
The price has been declining since the last 'Pennant' was broken. The main intraday target is the next support at 1.3120 - 1.3082, which could be a starting point for a bullish correction.
The 34 Moving Average has acted as resistance, so there's a new local low. However, there's a 'V-Top' pattern, so the market is likely going to test the 34 or 55 Moving Average during the day.
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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