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 end soon
2019-11-11 • Updated
There's a 'Double Top' pattern, which has been confirmed. Even so, the market is likely going to test the closest resistance at 1.3172 in the coming hours, so we could have a new local high. If a pullback from this level forms next, there'll be a moment to have a decline towards the nearest support at 1.3081 - 1.3055.
We've got a developing 'Rising Wedge' pattern, which is about to end. So, we should watch the next resistance at 1.3172 as a possible starting point for a downward correction to 1.3081 - 1.3072.
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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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