GBPUSD Daily Forecast Nov 29 2018

Pound - dollar - 689875

GBPUSD: Consolidates With Downside Bias…

As long as 1.2845 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 1.2845 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.

Note: The pair may spike to 1.2880 before ending the day below 1.12845 level.

Conclusion: The GBPUSD sees downside threats below 1.2823 levels.

Support: 1.2724, 1.2670, 1.2525, 1.2465

Resistance:1.2845, 1.2926, 1.3029 , 1.3122

Key data/events which may affect GBPUSD today:

The Fed will publish the minutes of its November meeting at 19:00 GMT.

GBPUSD Daily Forecast Nov 29 2018