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' pattern
2019-11-11 • Updated
There's a new local high, but we've got a 'V-Top' pattern. In this case, the market is likely going to test the nearest support at 1.2796 - 1.2772 in the coming hours. Meanwhile, if a pullback from these levels happens next, there'll be an opportunity to have another bullish rally towards the next resistance at 1.2883 - 1.2927.
The pair faced with resistance at 1.2883, so there's a 'Triple Top', which means we should watch the closest support at 1.2796 - 1.2772 as an intraday target. The subsequent pullback from this area could lead to an upward price movement in the direction of the last 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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