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
There's a 'V-Bottom', so the market is rising. The main intraday target is the nearest resistance at 1.3380 - 1.3419. A pullback from these levels could be a starting point for a decline in the direction of another support at 1.3266 - 1.3220.
The 89 Moving Average is acting as resistance. So, it's likely to have a bearish correction in the coming hours. Meanwhile, if a pullback from the closest support at 1.3300 - 1.3292 happens afterwards, there'll be a moment to have a bullish price movement towards the next resistance at 1.3377.
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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