empty
 
 
13.11.2019 01:15 PM
Technical analysis of GBP/USD for November 13, 2019

This image is no longer relevant

Overview:

  • Yesterday, the GBP/USD pair reached a new minimum at the price of 1.2817 and 1.2860. So, today the price may reach one more minimum around the spot of 1.2768, which coincides with the duble bottom in the H1 chart. Today, the GBP/USD pair is challenging the psychological resistance at 1.2896 (pivot point). So, the resistance is seen at the level of 1.2896. We expect the GBP/USD pair to continues moving in a downtrend below the level of 1.2896 towards the first target at 1.2768, while major support is found at 1.2723. On the downside, a clear break at the level of 1.2768 could trigger further bearish pressure testing 1.2723 and 1.2685, which represents the major resistance in coming days.

Forecast:

  • As a result, it is gainful to sell below this price of 1.2896 with targets at 1.2768, 1.2723 and 1.2685. However, the bullish trend is still expected for the upcoming days as long as the price is above 1.2700.

Daily Technical level:

  • Major resistance: 1.3018
  • Minor resistance: 1.2975
  • Intraday pivot point: 1.2896
  • Minor support: 1.2768
  • Major support: 1.2685
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