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: price declining because of 'Pennant' pattern
2019-11-11 • Updated
There's a 'Pennant' pattern, which has been broken, so the price is declining. The main intraday target is the next support at 1.3174 - 1.3125. A pullback from this area could be a departure point for a bullish correction.
We've got a 'Thorn' pattern at the last local low. In this case, the pair is going to test the closest resistance at 1.3292. If a pullback from this level happens next, there'll be a green light for another decline.
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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