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 points to decline
2019-11-11 • Updated
Bulls faced with resistance at 1.3172, so there's a 'V-Top' pattern, which means we should keep an eye on the 34 Moving Average as an intraday target. A pullback from this line could be a departure point for a bullish price movement towards the next resistance at 1.3212 - 1.3225.
There's a 'Double Top' pattern, which has been confirmed. So, it's likely that the pair is going to test the closest support at 1.3118 within the next few hours. If a pullback from this level forms next, bulls will probably try to reach another resistance at 1.3199 - 1.3214.
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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