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The GBPUSD breaks the support - Analysis - 16-11-2023
The GBPUSD pair faced additional negative pressure yesterday to break 1.2430 level and settles below it, starting today with more decline to confirm stopping the bullish correction and head towards resuming the main bearish wave again, noting that the next negative station is located at 1.2297.
Therefore, the bearish bias will be expected for today unless breaching 1.2460 and holding above it again, as breaching this level represents positive factor that will lead the price to return to the correctional bullish track and achieve new gains that reach 1.2590.
The expected trading range for today is between 1.2300 support and 1.2450 resistance.
The expected trend for today: Bearish
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The EURUSD fails to consolidate positively - 16-11-2023
The EURUSD pair couldn’t manage to hold above the support base that it attempted to form above 1.0860 level, to trade negatively and head towards expected visit to 1.0760 areas, making the bearish bias suggested for today, being aware that we need to monitor the price when reaching the mentioned level, as breaking it represents the key to return to the main bearish track and achieve additional decline that its next target reaches 1.0640.
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