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: price going to test Moving Average
2019-11-11 • Updated
Bulls faced a resistance at 1.2595, so we’ve got a “V-Top” pattern, which pushed the price to a support at 1.2557. Therefore, the pair is likely going to test the next support at 1.2522, which could be a departure point for an upward price movement in the direction of a resistance at 1.2614 – 1.2635.
There’s a “V-Top” pattern, which has been confirmed. Also, we’ve got a bearish “Flag”, so the pair is likely going to test the 34 Moving Average during the day. If a pullback from this line happens, there’ll be an opportunity to have a new local high shortly.
Similar
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.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...