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 bullish rally
2019-11-11 • Updated
The price is rising because of the last 'V-Bottom' pattern. The main intraday target is the next resistance at 1.2969 - 1.2989. If a pullback from this area happens little later on, there'll be a moment for a decline towards the nearest support at 1.2897 - 1.2866.
All the Moving Averages have been broken. Also, there's a 'Flag' pattern. It's likely that the pair is going to reach the nearest resistance at 1.2969 - 1.2989 within the next few hours. A pullback from these levels could be a starting point for a downward correction.
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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