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' pushing price higher
2019-11-11 • Updated
There's a 'V-Bottom' pattern, so the price is likely going to test the nearest resistance at 1.3137 - 1.3162 in the short term. A pullback from this area could be a starting point for a decline towards the Moving Average lines.
We've got a local 'V-Top', which means there's a moment for an intraday downward correction. In this case, we should watch the closest support at 1.3072 as a bearish target. If a pullback from this level happens next, bulls will probably try to deliver a new local high.
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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