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
Bulls faced with resistance at 1.3913, so there's a bearish "Thorn" pattern. The main intraday target is the closest support at 1.3765 - 1.3730. Meanwhile, if a pullback from this area is on the table, the pair will probably try to reach another resistance at 1.3913 - 1.3942.
There's a "V-Top" pattern, so the price is consolidating. It's likely that the market is going to test the closest resistance at 1.3834 - 1.3871. If we have a pullback from these levels, there'll be a moment to have a decline towards another support at 1.3765 - 1.3730.
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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