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
There's a 'V-Top' pattern, so the pair is likely going to achieve the closest support at 1.3089 - 1.3047 in the coming hours. Nevertheless, if we have a pullback from these levels, bulls will probably try to reach the next resistance at 1.3181.
Bulls have been stopped by the last 'V-Top' pattern, so it's time for a downward correction. The main intraday target is the nearest support at 1.3047 - 1.3032. This area could be a departure point for another upward price movement towards 1.3149 - 1.3181.
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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