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: "Triple Bottom"
2019-11-11 • Updated
Bears faced with support at 1.3223, so there's a "Triple Bottom", which pushed the price to the closest resistance at 1.3278. Meanwhile, the market is likely going to continue moving up towards the 34 Moving Average. If this line acts as resistance little later on, bears will try to reach another support at 1.3223 - 1.3182.
We've got a "Triple Bottom", so the price is consolidating. The main intraday target is the 89 Moving Average, which could be a departure point for another decline in the direction of the last low.
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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Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.