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" pushing price lower
2019-11-11 • Updated
Bulls faced a resistance at 1.2951, so we’ve got a “V-Top” pattern, which pushed the price to a support at 1.2774. Therefore, the pair is likely going to reach the nearest support at 1.2774 – 1.2727. Meanwhile, if we see a pullback from this area, there’ll be an option to have an upward price movement in the direction of the next resistance at 1.2911 – 1.3023.
We’ve got a “V-Top”, which has been confirmed. So, the market is likely going to decline towards the closest support at 1.2774 – 1.2727 during the day. Considering a possible pullback from these levels, there’s an opportunity to have a new high afterwards.
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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