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: "V-Bottom" led to a new high
2019-11-11 • Updated
The 55 Moving Average has acted as support, so there's a bullish "Thorn" pattern. The main intraday target is the next resistance at 1.3382 - 1.3408. This area could be a departure point for a decline towards the nearest support at 1.3320 - 1.3298.
We've got a "V-Bottom" pattern, which led to forming a new local high. So, we're likely going to have a local downward correction in the coming hours. If a pullback from the closest support at 1.3336 happens afterwards, bulls will try to deliver another rally.
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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