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
The 89 Moving Average has acted as support, so the price is rising. However, there's a "V-Top" pattern, so the market is likely going to decline towards the nearest support at 1.3386 - 1.3369. This area could be a departure point for another bullish price movement in the direction of the next resistance at 1.3454 - 1.3479.
The price is consolidating above the Moving Averages. The main intraday target is the closest resistance at 1.3479. If a pullback from this level happens, there'll be an opportunity to have a decline towards the nearest support at 1.3408 - 1.3398.
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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