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 is consolidating
2019-11-11 • Updated
The price is consolidating between the nearest resistance at 1.4284 and the 34 Moving Average. It's likely that the price is going to test the closest support at 1.4015 - 1.3979. If a pullback from this area happens, bulls will probably try to reach the next resistance at 1.4205 - 1.4284.
There's a confirmed "Double Top", so bears are likely going to achieve the nearest support at 1.4024 - 1.3979 in the coming hours. Meanwhile, if we have a pullback from these levels, bulls will have a green light to reach another resistance at 1.4232 - 1.4284.
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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