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: possible "Pennant" pattern
2019-11-11 • Updated
Bears faced support at 1.3006, so the price is consolidating near this level. Nevertheless, the market is likely going to decline towards the 34 & 55 Moving Averages. If a pullback from these lines happens, there'll be an opportunity to have a new local high.
The price is consolidating in a range of a possible "Pennant" pattern. So, bulls are likely going to test the nearest resistance at 1.3057. At the same time, bears will probably try to achieve support at 1.2982 - 1.2926 afterwards.
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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