The GBPUSD breaches the resistance - Analysis - 20-11-2023
Economies.com
2023-11-20 04:12AM UTC
The GBPUSD pair bounced bullishly to breach 1.2460 level and close the daily candlestick above it, which stops the recently suggested negative scenario and push the price to resume the correctional bullish trend, on its way to visit 1.2590 as a next main target, which represents 50% Fibonacci correction level for the decline measured from 1.3142 to 1.2037.
The EMA50 supports the price from below, to reinforce the expectations to rise in the upcoming sessions, which will remain valid conditioned by the price stability above 1.2460 – 1.2430 levels.
The expected trading range for today is between 1.2400 support and 1.2560 resistance.
The expected trend for today: Bullish
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