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' points to another decline
2019-11-11 • Updated
There's a 'V-Top' pattern, so the price is likely going to test the nearest support at 1.3047 - 1.3032 in the short term. If a pullback from this area happens next, there'll be a green light for another upward price movement. In this case, we should watch the next resistance at 1.3216 - 1.3235 as a bullish target.
It seems like there's a 'Pennant' pattern. If correct, the pair is going to achieve the 55 Moving Average. The subsequent pullback from this line could lead to an upward price movement in the direction of the previously tested resistance at 1.3193 - 1.3216.
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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