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' pushed price higher
2019-11-11 • Updated
The last 'V-Bottom' led to the current upward price movement. The main intraday target is the next resistance at 1.3189 - 1.3216. If a pullback from these levels happens next, we're going to have a bearish correction towards the closest support at 1.3101 - 1.3082.
All the Moving Averages have been broken, so the price is consolidating. It's likely that the market is going to reach the nearest resistance at 1.3189 - 1.3216. Meanwhile, if we see a pullback from this area little later on, bears will probably try to achieve the 55 Moving Average.
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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