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: consolidation along 55 MA
2019-11-11 • Updated
There's a "Double Top" pattern, which has been confirmed. Therefore, the pair is likely going to test the nearest support at 1.2982 in the short term. If we have a pullback from this level, there'll be an opportunity to see the price even higher. So, we should keep in mind the next resistance at 1.3116 as an intraday target.
The price is consolidating along the 55 Moving Average. It's likely that the market is going to reach the closest resistance at 1.3077 during the day. If a pullback from this level happens, we're likely going to have another decline towards the next support at 1.3006 - 1.2982.
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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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