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 pound is moving down
2019-11-11 • Updated
SELL 1.267 SL 1.2725 TP1 1.257 TP2 1.24 TP3 1.22, BUY 1.24 SL 1.2345 TP1 1.25 TP2 1.26 TP3 1.267
On the daily chart of GBP/USD, bears managed to break the support at 1.27 and move the pair out of the triangle. As a result, the risks of the further fall towards the 161.8% target of the AB=CD pattern increased.
On H1, the pair is moving towards the 161.8% target of the AB=CD pattern. The level of the “Three Indians” pattern is situated nearby, which increases a possibility of the rebound. If the rebound does not happen, the pound will continue to fall.
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!
Whenever inflation exceeds 4% and unemployment falls below 5%, the US economy enters a recession in two years.
The stock market has reversed, and now it’s going lower and lower…