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" pattern
2019-11-11 • Updated
We've got a "Triple Bottom" pattern, which has been confirmed. It's likely that bears are going to achieve the closest support at 1.2853 in the short term. However, if a pullback from this level happens, bulls will have a green light to reach the nearest resistance at 1.2832 - 1.2951.
The price is consolidating near the 34 Moving Average. Also, the price faced resistance at 1.2911, so we should keep an eye on the closest support at 1.2853. If we have a pullback from this level, there'll be an opportunity to have a bullish price movement towards the next resistance at 1.2926 - 1.2932.
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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