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' pattern
2019-11-11 • Updated
There's a 'V-Bottom' pattern, so the market is likely going to test the closest trendline. If a pullback from this level forms little later on, bears will probably try to deliver a new local low.
The price is rising because of the last 'V-Bottom'. Therefore, the pair is likely going to reach the 55 Moving Average in the coming hours. Meanwhile, if a pullback from this line happens next, there'll be an opportunity to have another decline.
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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