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
Bulls faced with resistance at 1.4149, so we've got a "V-Top" pattern. Therefore, we should keep an eye on the nearest support at 1.3915 as an intraday target. If a pullback from this level happens afterwards, bulls will probably try to achieve another resistance at 1.4066 - 1.4149.
There's a consolidation, which is taking place near the 55 Moving Average. The main intraday target is the closest support at 1.3923. Meanwhile, if we have a pullback from this level, there'll be a moment for a bullish price movement towards the next resistance at 1.4066 - 1.4100.
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.