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' to continue
2019-11-11 • Updated
The market is still unfolding the 'Rising Wedge' pattern. It's likely that the price is going to test the next resistance at 1.2725 - 1.2759 in the coming hours. Meanwhile, if a pullback from this area forms next, there'll be a moment to have a decline towards the nearest support at 1.2617 - 1.2588.
There's a 'V-Top' pattern, so the price is consolidating. The main intraday target is the previously tested resistance at 1.2738 - 1.2759. The subsequent pullback from these levels could lead to a downward price movement in the direction of the closest important support at 1.2658 - 1.2628.
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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