The GBPUSD resumes the rise - Analysis - 21-11-2023
2023-11-21 04:10AM UTC

The GBPUSD pair resumes its positive trading after leaning on 1.2460 level, and the way is open to achieve our waited target at 1.2590, which represents 50% Fibonacci correction level for the decline measured from 1.3142 to 1.2037, which means that breaching it will extend the bullish wave to reach 1.2720 as a next correctional target.


The positive effect of the pattern that appears on the chart supports the continuation of the bullish trend domination and achieving more positive targets on the longer-term basis, reminding you that it is important to hold above 1.2460 and 1.2430 levels to continue the expected rise.



The expected trading range for today is between 1.2480 support and 1.2620 resistance.


The expected trend for today: Bullish

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