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 rising because of 'V-Bottom'
2019-11-11 • Updated
The price is rising because of the last 'V-Bottom' pattern. It's likely that the market is going to reach the next resistance at 1.3307 - 1.3341 in the coming hours. This area could be a starting point for a bearish correction.
There's a local 'V-Top' pattern, so we're likely going to have a downward correction during the day. However, if a pullback from the nearest support at 1.3253 happens next, bulls will probably try to achieve another resistance at 1.3318 - 1.3341.
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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