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" pattern
2019-11-11 • Updated
The last "Flag" pattern has been broken, so the price reached support at 1.2830. Also, there's a "Thorn" pattern, so the market is likely going to test the nearest support at 1.2811. If a pullback from this level happens, bulls will have a green light to reach the next resistance at 1.2892 - 1.2911.
There's a consolidation, which is taking place under the 34 Moving Average. So, the pair is likely going to reach the closest resistance at 1.2892. If we have a pullback from this level, bears will probably try to test support at 1.2930 - 1.2811.
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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