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 points to correction
2019-11-11 • Updated
The price has reached the nearest resistance at 1.3193, so there's a 'Thorn' pattern, which hasn't been confirmed yet. Even so, we're likely going to have a bearish correction soon. In this case, we should keep an eye on the next support at 1.3137 - 1.3107 as an intraday target.
There's a 'V-Top' pattern, so bears are likely going to test the closest support at 1.3124 - 1.3107 within the next few hours. A pullback from this area could be a starting point for a bullish rally in the direction of another resistance at 1.3193 - 1.3216.
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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