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 led to consolidation
2019-11-11 • Updated
There's a 'Thorn' pattern, so the price is consolidating. It's likely that the market is going to test the next support at 1.3457 - 1.3425 soon. A pullback from this area could be a departure point for an upward correction.
The last 'Flag' pattern has been broken, so the price is going to reach the closest support at 1.3457 - 1.3425. Meanwhile, if we see a pullback from this area little later on, there'll be a movement for a bullish correction towards the nearest resistance at 1.3519 - 1.3549.
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.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
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