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: 'Thorn' led to current consolidation
2019-11-11 • Updated
The last 'Thorn' pattern led to the current consolidation. It's likely that the market is going to test the closest resistance at 1.3157 - 1.3172. This area could be a starting point for a decline towards the nearest support at 1.3132 - 1.3101.
The market is consolidating under the Moving Averages. The main intraday target is the next support at 1.3101 - 1.3081. If a pullback from these levels forms next, we're likely going to have a bullish price movement towards another resistance at 1.3157 - 1.3172.
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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