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 Top" pattern
2019-11-11 • Updated
There's a "Triple Top" pattern, so the market has plunged. However, bears faced with support at 1.3047 - 1.3032, so the price is consolidating. It's likely that the pair is going to rise in the short term. The main intraday target is the next resistance at 1.3081 - 1.3120. This area could be a departure point for a decline.
All the Moving Averages have been broken. If a pullback from the closest resistance at 1.3190 happens, there'll be an opportunity to have a downward price movement. In this case, we should keep an eye on the next support at 1.3026 - 1.2994 as the next bearish target.
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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