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.
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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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