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
We've got a new local high, so there's a "Thorn" pattern. In this case, the price is likely going to reach the nearest support area at 1.3320 - 1.3298. This target could be a departure point for an upward price movement in the direction of the next resistance at 1.3370 - 1.3408.
There's a consolidation, which is taking place between the levels 1.3370 - 1.3220. The main intraday target is the closest support at 1.3320 - 1.3298. If a pullback from this area happens little later on, bulls will probably try to achieve another resistance at 1.3370 - 1.3408.
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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