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" pattern led to decline
2019-11-11 • Updated
All the Moving Averages have been broken, so the price is declining. It's likely that bears are going to test the nearest support at 1.3656. If a pullback from this level happens little later on, we could have an upward price movement towards the closest resistance at 1.3799 - 1.3835.
The last "Triangle" pattern led to the current decline. Meanwhile, it's likely to have a bullish correction in the short term. However, if we see a pullback from the nearest resistance at 1.3763 - 1.3799, there'll be a moment for another decline.
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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