GBPUSD Daily Forecast: November 16
GBPUSD Forecast
The GBPUSD had a strong and significant bearish momentum yesterday, broke below 1.2835 support area as you can see on my daily chart below, bottomed at 1.2723. The bias is bearish in nearest term testing 1.2700 – 1.2665 support area. Immediate resistance is seen around 1.2835 (former support, now resistance). A clear break back above that area could lead price to neutral zone in nearest term testing 1.2880 – 1.2920 resistance area. On the downside, a clear break and daily/weekly close below 1.2700 – 1.2665 area would target 1.2500 – 1.2370 region next week.
Source: https://fxinstructor.com/blog/gbpusd-daily-forecast-november-16-8
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