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 led to decline
2019-11-11 • Updated
The pair is declining because of the last 'V-Top' pattern. Meanwhile, it's likely to have a bullish correction in the coming hours. The main intraday target is the closest resistance at 1.3253 - 1.3277, which could be a starting point for another decline.
It seems like there's a 'Thorn' pattern, so we're likely going to have an upward correction during the day. In this case, we should keep on track the nearest resistance at 1.3253 - 1.3277 as a bullish target.
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.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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