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
The main trend is still bullish, so we should keep an eye on the nearest resistance at 1.3595 - 1.3618 as the next intraday target. If a pullback from this area happens little later on, there'll be a moment to have a decline towards the closest support at 1.3419 - 1.3465.
The 55 Moving Average has acted as support, so there's a "Triple Bottom" pattern. In this case, bulls are likely going to test the next resistance at 1.3595 - 1.3612. Meanwhile, if a pullback from this area is on the table, bears will probably try to achieve the nearest support at 1.3537 - 1.3519.
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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