GBPUSD Daily Forecast Nov 28 2018

Pound - dollar - 689875

GBPUSD: Bearish, Risk Turns Lower To 1.2670 Level…

As long as 1.2823 resistance holds on a daily closing basis, the GBPUSD remains neutral with risk to the downside. Support comes at 1.2670 level. A halt is likely, it may test 1.2740 before attempts breaking below 1.2670. However; below 1.2670 aims 1.2600 level, further down, support comes at 1.2525 level.

On the upside, resistance comes at 1.2823 level. Above that level sees recovery threats to 1.2926/1.3029 before another fall. Above 1.3026 will extend the corrective recovery to 1.3122 level.

Conclusion: The GBPUSD sees downside threats below 1.2823 levels.

Support: 1.2724, 1.2670, 1.2525, 1.2465

Resistance:1.2823, 1.2926, 1.3029 , 1.3122

Key data/events which may affect GBPUSD today:

The U.S will publish revised data on third-quarter growth at 13:30 GMT, and a report on new home sales at 15:00 GMT.

Fed Chairman Jerome Powell will speak in New York at 17:00 GMT.

MARKET DATA

UPCOMING ECONOMIC EVENTS