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: "Rising Wedge" pattern
2019-11-11 • Updated
The price is consolidating under resistance at 1.3234, but we've got a "Double Top". If this pattern confirms, bears are likely going to test the nearest support at 1.3184. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.3277.
We've got a "Rising Wedge" pattern, so the price is likely going to test the closest resistance at 1.3243 - 1.3250 during the day. However, if we see a pullback from this area, bulls will have a green light to achieve another support at 1.3207 - 1.3184.
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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