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 going to test next resistance
2019-11-11 • Updated
Bulls found resistance at 1.3996. Nevertheless, the market is likely going to test the next resistance at 1.4069 in the coming hours. This level could be a starting point for a downward correction towards the nearest support at 1.3928.
There's a "V-Top" pattern, which has been confirmed. Therefore, bears are likely going to test the closest support at 1.3928 - 1.3911 soon. Meanwhile, if a pullback from this area happens afterwards, bulls will probably try to reach another resistance at 1.3996 - 1.4023.
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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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