Technical analysis of GBP/USD 11/16/2022

The GBP/USD currency pair on the (1D) chart shows an upward correction within a downtrend. The price found support at 1.0333 and is currently consolidating around 1.1900 (38.2% Fibo).

If the pair manages to consolidate above the level of 1.1900 (38.2% Fibo), technically it will mean the development of an upward correction with the target in the area of 1.2300 (50% Fibo), (MA200).

A signal to cancel the option to continue the upward correction will be a decrease in quotes below the low of 1.0333, which will indicate a continuation of the downtrend.


Created by Joshua Hayn

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)
5.0 out of 5 based on 1 rating

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>