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-Top' led to bearish rally
2019-11-11 • Updated
The pair has plunged because of the last 'V-Top' pattern. It's likely that the market is going to test the next support area at 1.2999 - 1.2968. A pullback from these levels could be a starting point for an upward correction towards the nearest important resistance at 1.3047 - 1.3072.
It seems like we're going to have a 'Pennant' pattern. If so, we should keep an eye on another support at 1.2999 - 1.2968 as an intraday target. If a pullback from this area forms little later on, there'll be time for a bullish correction.
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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