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' pushed the pair lower
2019-11-11 • Updated
The last 'Pennant' pushed the pair lower. It's likely that the market is going to reach another support at 1.2877 - 1.2851. This area could be a departure point for an upward price movement in the direction of the nearest resistance at 1.2932 - 1.2957.
The price has broken the Pennant's lower side, so there's a new local low. The main intraday target is the next support at 1.2877 - 1.2851. A pullback from this area could lead to the bullish correction.
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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