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
The price is consolidating between the levels 1.2911 – 1.2773. Considering the last “V-Top” pattern, the market is likely going to reach the nearest support at 1.2726. If a pullback from this level be on the table, there’ll be an opportunity to have an upward price movement towards the next resistance at 1.2816 – 1.2865.
There’s a consolidation, which is taking place above the broken “Pennant”. So, bulls are likely going to reach a resistance at 1.2900 – 1.2911 during the day. Meanwhile, if we see a pullback from these levels, bears will probably try to test the 89 Moving Average.
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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