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: support by 34 Moving Average
2019-11-11 • Updated
There's a "Double Top", but bears couldn't move on because of support by the 34 Moving Average. At the same time, we've got a "V-Bottom", so the pair is likely going to test the nearest resistance at 1.2945 - 1.2964. If bulls stop here, we'll have an opportunity to see a correction.
Price is moving up and down along support at 1.2913. Therefore, bulls are likely going to reach resistance at 1.2935 - 1.2952, which could be a departure point for a decline in the direction of support at 1.2900 - 1.2880.
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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