GBPUSD Monthly Forecast Nov 2018

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GBPUSD: Bearish, Eyes On 1.2560 Level…

As long as 1.3362 resistance holds on a monthly closing basis, the GBPUSD remains on the downside to 1.2560 level. A halt is likely, it may test 1.2956 before another down. However; below 1.2560 aims 1.2080 level, further down, support comes at 1.1535 level.

On the upside, resistance comes at 1.2955 level. A break would open 1.3362 level(main). A halt is very likely but above that level sees recovery threats to 1.3755 level, further upside, resistance comes at 1.4375 level.

Conclusion: The GBPUSD still sees downside threats below 1.2956/1.3362 levels in the long-term forecast.

Support: 1.2560, 1.2080, 1.1535

Resistance: 1.2955, 1.3362, 1.3755

 

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