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 price has been rising since the last bullish 'Thorn' formed. The main intraday target is the next resistance at 1.2814, so we could have a new local high soon. However, if a pullback from this level happens little later on, bears will probably try to test the nearest support at 1.2738 - 1.2695.
There's a local consolidation right above the broken downtrend line. It's likely that the pair is going to test the closest support at 1.2732 - 1.2718 during the day. The subsequent pullback from this area could lead to an upward price movement towards another resistance at 1.2814 - 1.2839.
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.
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.
The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.