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: Moving Averages acting as support
2019-11-11 • Updated
The price found resistance at 1.2757, so bears achieved support at 1.2705. In this case, the market is likely going to reach the next resistance at 1.2793 - 1.2817. If a pullback from this area happens, bears will have a green light to test the closest support at 1.2678 - 1.2634.
There's a consolidation, which is taking place under resistance at 1.2757. The Moving Averages are acting as support. Therefore, the price is likely going to reach the next resistance at 1.2793 in the coming hours. However, if a pullback from this level arrives afterwards, there'll be an option to have a decline in the direction of support at 1.2690 - 1.2672.
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