empty
 
 
23.11.2020 04:45 PM
GBP/USD Hot Forecast For 23 November

Highlights

  • GBP/USD has been rising on vaccine and Brexit optimism.

This image is no longer relevant

GBP/USD has hit a fresh two-month high. From a technical perspective, a sustained move beyond the 1.33 horizontal resistance might have already set the stage for additional gains in the early sessions.

However, any subsequent move up is more likely to meet resistance near the top barrier of a short-term ascending trend channel. The mentioned barrier is near the 1.3400 round figure mark region.

The pair might then surpass the 1.3400 mark and aim towards testing September daily highs, around the 1.3480 region and then testing the key 1.3500 psychological mark.

On the flip side, the 1.330 resistance breakpoint now seems to support the immediate downside and is followed by support near the 1.311 region. A convincing breakthrough at 1.330 will turn the pair vulnerable to accelerate the slide further to the 1.311 region.

Jan Novotny,
Analytical expert of InstaForex
© 2007-2024
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 $1000 more!
    In April we raffle $1000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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