Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
GBP/USD: the GBP is weak
2019-11-11 • Updated
TP1 1.284 TP2 1.28 TP3 1.2735
On the daily chart of GBP/USD, the pair reached targets of senior and junior 1-2-3 patterns, as a result, the pair came back to the downward channel. A break of the support at 1.2225-1.224 will increase risks of the sharp decline to the 88.6% target of the “Bat” pattern.
On H1, the 88.6% target of the “Bat” pattern stopped bears. However, bulls couldn’t pull the pair back to the upward channel. It signals their weakness.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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