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" stopped bears
2019-11-11 • Updated
The last upward trend has been broken, so the price meet with support at 1.2755, which led to forming a "V-Bottom" pattern. Therefore, the market is likely going to rise towards the nearest resistance at 1.2913. If a pullback from this level happens, there'll be an opportunity to have a decline towards support at 1.2755 - 1.2705.
The price faced support at 1.2755, so we've got a "V-Bottom". In this case, we're likely going to have another upward price movement towards resistance at 1.2887 - 1.2905, which could be a departure point for a decline in the direction of the next support at 1.2755 - 1.2705.
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.
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