The GBPUSD begins positively - Analysis - 23-11-2020

The GBPUSD pair opens today’s trading with strong rise to reach the bullish channel’s resistance line that appears on the chart, which hints the price head to achieve more potential gains in the upcoming sessions and stopping the recently suggested negative scenario, supported by the EMA50, but it needs to surpass 1.3335 to confirm the continuation of the rise.

Now, we prefer staying aside until we get clearer signal for the next trend, which we will get through breaching 1.3335 resistance or breaking 1.3270 support, noting that breaking the mentioned resistance will lead the price to continue the rise and achieve positive targets that reach 1.3482, while breaking the support will press on the price to start bearish correction that targets visiting 1.3190 followed by 1.3105 areas before any new attempt to rise.

The expected trading range for today is between 1.3230 support and 1.3400 resistance.

The expected trend for today: Neutral