GBPUSD Daily Forecast Nov 21 2018

Pound - dollar - 689875

GBPUSD: Bearish, Risk Remains Lower To 1.2693 Level…

As long as 1.2882 resistance holds on a daily closing basis, the GBPUSD remains on the downside to 1.2693 level. A halt is likely, it may test 1.2775 before attempts to break lower. Anyway; below 1.2693 aims 1.2590, further down, support comes at 1.2480 level.

On the upside, resistance comes at 1.2882 level. Above that level sees recovery threats to 1.3029 before another fall. If this fails to happen, the pair will extend the corrective recovery to 1.3150, further upside, resistance comes at 1.3275 level.

Conclusion: The GBPUSD sees downside threats below 1.2882 levels.

Support: 1.2775, 1.2693, 1.2590, 1.2480

Resistance: 1.2882, 1.3029 (main), 1.3150, 1.3275

GBPUSD Daily Forecast Nov 21 2018Key data/events which may affect GBPUSD today:

  • The U.S will report on Durable Goods Orders at 13:30 GMT. The indicator is expected to fall -2.2%, from 0.7% a month earlier. Core Durable Goods Orders is expected to rise by 0.4%, from 0.1% in the last month. Above forecast will keep the pair under pressure.