Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and awaited a breakthrough in stimulus talks in Washington.
GBP/USD: price to continue declining
2019-11-11 • Updated
The low of the last 'Double Bottom' pattern has been broken. The main intraday target is the next support at 1.2844 - 1.2828. A pullback from this area could be a starting point for an upward correction in the direction of the nearest support at 1.2930 - 1.2953.
There's a 'V-Top' pattern, so the pair is likely going to reach the closest support at 1.2870 - 1.2844 within the next few hours. At the same time, if we have a pullback from these levels, there'll be a green light for a bullish correction to 1.2923 - 1.2953.
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
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