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 price has been rising since a "Triple Top" pattern formed. The main intraday target is the next resistance at 1.4233 - 1.4284. This area could be a departure point for a downward correction.
The last "Pennant" pattern led to the current upward price movement, but there's a "V-Top", so we're likely going to have a downward correction. It's likely that bears are going to test the closest support at 1.4066 during the day. However, if we have a pullback from this level, there'll be a moment for another bullish price movement.
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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