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', which pushed the price higher. Also, we've got a 'Pennant', so the pair is likely going to reach the nearest resistance at 1.3216 - 1.3257. A pullback from this area could be a starting point for a downward correction to 1.3146 - 1.3114.
The last 'Pennant' has been broken, but the market is testing the closest resistance at 1.3193. So, there's an opportunity to have a local correction to 1.3149 - 1.3109. If a pullback from this area happens next, there'll be time for another bullish rally.
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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