Technical analysis of GBP/USD 05/11/2023
The GBP/USD currency pair on (1D) is in an ascending channel and is currently consolidating in the 1.2600 area.
The technical picture suggests that the pair will continue uptrend within the channel. In favor of continued uptrend, the formed figure “Double Bottom”. The target for working out the figure is the level of 1.3000.
The nearest support level is 1.2450.
A signal to cancel the development of growth will be a decrease in quotes below the level of 1.1850, which will indicate that the price has gone beyond the lower limit of the ascending channel, (MA100), (MA200).
Created by Joshua Hayn
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