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 the market lower
2019-11-11 • Updated
Bulls found a resistance at 1.2599, so there’s a “V-top” pattern. Therefore, the price is likely going to test the closest support at 1.2506 – 1.2477. Meanwhile, if we see a pullback from these levels, bulls will probably try to approach a resistance at 1.2599 – 1.2637.
We’ve got a “V-Top”, so bears are likely going to reach a support area between the levels 1.2506 – 1.2492. However, if a pullback from this area happens, bulls are going to deliver another upward price movement. In this case, we should keep an eye on a resistance at 1.2599 – 1.2614 as an intraday 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.
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