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: “Triangle” transformed into “Wedge”
2019-11-11 • Updated
The last “Triangle” has been transformed into a downward “Wedge”. So, bulls are likely going to test a resistance at 1.2522 – 1.2557 in the short term. However, if a pullback from these levels happens, bears will probably try to test the 34 Moving Average.
All Moving Averages have been broken. Also, we’ve got a bullish “Pennant” pattern, so the price is likely going to reach the nearest resistance at 1.2522 – 1.2537. At the same time, if we see a pullback from this area, there’ll be an option of have another decline in the direction of a support at 1.2477 – 1.2469.
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.
Welcome to October, the tenth month of 2023. For this installment of What to Trade, I have handpicked a few of my favorite trade ideas for the month. Let’s go over a few of them.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.