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: time for local downward correction
2019-11-11 • Updated
There's a 'V-Bottom', so the price is rising. Meanwhile, it's likely to have a downward correction soon. In this case, we should keep an eye on the closest support at 1.3189 - 1.3170 as a starting point for another bullish rally.
We've got a 'V-Top', which has been confirmed. The main intraday target is the next support at 1.3189 - 1.3170. If a pullback from this area arrives little later on, there'll be an opportunity to have an upward price movement towards the nearest significant resistance at 1.3289 - 1.3309.
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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Next week, we expect the BOC rate statement, the OPEC+ meeting, and the Nonfarm payrolls release. Let's look at the opportunities in detail!
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