GBPUSD Daily Forecast Nov 16 2018

Pound - dollar - 689875

GBPUSD: Bearish, Risk Shifts To 1.2625 Level…

The GBPUSD maintained a bearish momentum yesterday, topped at 1.3029 and bottomed at 1.2722 level. This development leaves the pair targeting the 1.2626 level. A halt is likely, it may test 1.2767 level before attempts to break below 1.2626. Anyway; below 1.2626 aims 1.2500 level, further down, support comes at 1.2375 level.

On the upside, resistance comes at 1.2826 level, a sustained breakout – daily closing – above that level would delay the bearish move and open the way 1.2900, further upside, resistance comes at 1.2985 level (main).

Conclusion: The GBPUSD sees downside threats below 1.2985 levels.

Support: 1.2767, 1.2722, 1.2625, 1.2500

Resistance: 1.2826, 1.2900, 1.2985, 1.3068

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