empty
 
 

29.11.202117:55 Forex Analysis & Reviews: Trading signal for GBP/USD on November 29 - 30, 2021: buy if breaks above 1.3331 (bearish channel)

GBP / USD lacks bullish strength. It made an attempt to break the strong downtrend channel, but failed. At the moment GBP/USD is trading at 1.3326 and could continue its bearish trend until it finds a bottom at 1.3305.

The British pound is trading below the strong downtrend channel formed since October 28 and below the 21 SMA located at 1.3331. In the next few hours, a technical rebound is expected around 5/8 murray located at 1.3305.

Global risk sentiment faces uncertainty, as investors prefer to wait and see if the new variant of the Omicron coronavirus could eventually affect the economic recovery.

Exchange Rates 29.11.2021 analysis

As GBP/USD is above the 21 SMA located at 1.3331, we have a good opportunity to buy in the next few hours. On the contrary, if the pound remains below this level, we should expect a technical rebound around 1.3305 and 1.3276.

Our forecast in the next few hours for the British pound is a consolidation above 1.3305. As long as GBP/ USD is trading above this zone, we will have an opportunity to buy with the target at 1.3427. If 6/8 is broken, we could buy with targets at 1.3518 (200 EMA).

The market sentiment report for today, November 29, shows that there are 75.82% of operators who are buying the GBP/ USD pair. This data provided a bearish sign in the short-term (It is bearish because investors act against the trend). Therefore, the price may again resume its downward movement with the target at 1.3183. The confirmation will happen if it consolidates below 1.3300.

The eagle indicator is showing a bullish bias, moving above a trend channel. A recovery is likely to follow in the coming days as long as the pair remains above 1.3305.

Support and Resistance Levels for November 29 - 30, 2021

Resistance (3) 1.3408

Resistance (2) 1.3371

Resistance (1) 1.3324

----------------------------

Support (1) 1.3287

Support (2) 1.3254

Support (3) 1.3203

***********************************************************

A trading tip for GBP/USD November 29 - 30, 2021

Buy above 1.3331 (SMA 21) with take profit at 1.342 (6/8) and 1.3518 (200 EMA), stop loss below 1.3290.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Dimitrios Zappas,
Esperto analista di InstaForex
© 2007-2022
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.




  • Trade Wise, Win Devise
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    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
In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.