British Pound insight analysis GBPUSD Bearish Trend November 21, 2017
- s trading at 1.3253, with the Pound trading 0.26% higher against US Dollar
- continues to move of the bearish Trend At this point,
- continue the fall of the pair into the area below the level of 1.3080.
traders would keep a close watch on UK’s public-sector net borrowing data for October, slated to release tomorrow.
CURRENCY TREND GBPUSD Bearish Trend Pound Dollar GBP/USD continues to move of the bearish Trend At this point, we should expect an attempt to test the upper border of the channel near the level of 1.3280 and continue the fall of the pair into the area below the level of 1.3080.
In favor of the fall of the pair on Forex will perform a test of the resistance area on the indicator of relative strength index (RSI). The End of the fall of the Pound/Dollar will be a strong growth and breakdown at 1.3350, which will indicate the cancellation of the fall and the continuation of the pair’s growth above the level of 1.3550. Expect to accelerate the decline is with the breakdown of the lower boundary of the channel and closing below the level of 1.3000.
GBPUSD Bearish Trend
At 10:40 GMT, the pair is trading at 1.3253, with the Pound trading 0.26% higher against US Dollar from the New York close. Going ahead, traders would keep a close watch on UK’s public-sector net borrowing data for October, slated to release tomorrow. The pair witnessed a high of 1.3279 and a low of 1.3186 during the session. On Friday, the Pound traded 0.17% higher against the US Dollar in the New York session and ended at 1.3219. Immediate downside, the first support level is seen at 1.3189, while on the upside, the first resistance level is situated at 1.3298.
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