empty
 
 
21.11.2018 05:39 PM
Technical analysis for GBP/USD for November 21, 2018

This image is no longer relevant

Technical outlook:

The GBP/USD pair seems to be preparing for a rally past 1.3140 levels in the next the next few trading sessions. For this wave structure to remain intact, GBP/USD needs to hold above its interim support around 1.2700 levels as depicted on the 4H chart here. Please note that immediate resistance is seen at 1.3050/60, followed by 1.3160 as seen here (not labelled), and a push through those levels would be required for bulls to remain in control. Furthermore, if and when prices break above the next line of resistance around 1.3200 levels, we should see further push through 1.3350 and 1.3470 levels respectively. On the flip side, a drop below 1.2700 levels, would delay matters further.

Trading plan:

Long now, stop below 1.2700, target is 1.3050 and 1.3160 short term

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Oscar Ton
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback