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
Bulls faced with resistance at 1.3915, so the price is consolidating. It's likely that the pair is going to test the nearest trendline, which could act as resistance. If so, there'll be a moment for a bearish correction.
There's a "Double Bottom", which has been confirmed. Therefore, the price is likely going to test the closest resistance at 1.3928 - 1.3963. If a pullback from this area happens afterwards, we could have a decline in the direction of the 89 MA.
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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