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 to test the next resistance
2019-11-11 • Updated
The pair is consolidating between the levels 1.2882 - 1.2784. It's likely that the price is going to test the next resistance at 1.2950 - 1.2953 in the coming hours. If a pullback from this area happens next, bears will probably try to reach the previously tested support at 1.2753 - 1.2728.
The 55 Moving Average has acted as resistance, so the market is consolidating. The main intraday target is the next resistance at 1.2950 - 1.2953. Also, if we have a pullback from these levels little later on, there'll be a moment for a decline in the direction of another support at 1.2753 - 1.2728.
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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