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: two "Thorn" patterns
2019-11-11 • Updated
The price is consolidating along the 34 Moving Average. It's likely that the market is going to achieve the 55 Moving Average in the short term. If a pullback from this line happens, there'll be an option to have an upward price movement in the direction of the next resistance at 1.3057 - 1.3090.
We've got two "Thorn" patterns, so the price is consolidating. The 89 Moving Average is acting as support, but bears are likely going to test support at 1.2945 - 1.2913 in the coming hours. Nevertheless, if we have a pullback from this area, bulls will probably try to achieve resistance at 1.2988 - 1.3023.
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.
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