Forex Analysis & Reviews: November 24, 2022 : GBP/USD Intraday technical analysis and significant key-levels.
time 24.11.2022 10:14 PM
time Relevance up to, 25.11.2022 10:14 PM

This image is no longer relevant

Previously, the GBP/USD pair remained under bearish pressure to challenge the lower limit of the channel around 1.3000 which failed to hold prices above.

Shortly after, a new daily low was established around 1.2150 which was bypassed few days after.

However, considerable support zone existed around 1.1850-1.1900 which has prevented further bearish decline for sometime.

However, as bullish momentum started to fade away, more bearish visits were expected to challenge these historical low levels.

Shortly after, Quick bearish decline was executed towards 1.1075 & 1.0860 where significant Fibonacci Expansion levels were located.

Based on the upcoming price action and the next weekly candlestick closure, the next target level for the GBP/USD pair can be determined.

Further bullish continuation above 1.1765 was expected in previous articles specially after the newly-established ascending bottoms around 1.1150 and 1.1750 remain defended by the bulls.

The next key-level to be visited is located around 1.2340. That's why, further bullish advancement should be expected if sufficient bullish momentum is maintained.

on the other hand, another bearish pullback towards the price levels of 1.1200 and 1.1000 should be expected for another long-term BUY Entry with initial target around 1.1500.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Trading Signal for GBP/USD on December 06-07, 2022: buy above 1.2220 (+1/8 Murray - 21 SMA)

To the upside, we expect the pound to settle above 1.2220, then it could give us a signal to buy with targets at 1.23. In case of a break through

Dimitrios Zappas 05:26 2022-12-06 UTC+2

Technical Analysis of Intraday Price Movements of the EUR/GBP Cross Currency Pair Tuesday, 06 December 06 2022.

With the emergence of deviation in the price movements of the EUR/GBP cross currency pair with the CCI indicator and the formation of the Bullish 123 pattern followed

Arief Makmur 05:22 2022-12-06 UTC+2

Technical Analysis of Daily Price Movement of Major Currency Pairs EUR/USD Tuesday, December 06 2022.

If we look at the daily chart for the main EUR/USD currency pair, it can be seen that yesterday's PL Dot was right at the close level of this area

Arief Makmur 05:22 2022-12-06 UTC+2

Forecast for EUR/USD on December 6, 2022

Yesterday's strong data on factory orders and business activity in the US was able to stop the development of risk appetite. October Factory Orders were up 1% in October, November

Laurie Bailey 03:50 2022-12-06 UTC+2

Forecast for GBP/USD on December 6, 2022

Under the general pressure of the market, the British pound declined by 100 points on Monday. It reached support at 1.2200. Now the price tries to break away from

Laurie Bailey 03:50 2022-12-06 UTC+2

Forecast for AUD/USD on December 6, 2022

By the end of Monday the dollar index gained 0.78%, oil prices fell by 3.66% and the Australian dollar fell by 1.37%. The price overcame the support at 0.6730

Laurie Bailey 03:50 2022-12-06 UTC+2

USDJPY wave analysis update.

In our previous post on USDJPY we mentioned that price was most probably starting its wave 4 counter trend move and we should expect price to move higher towards

Alexandros Yfantis 21:52 2022-12-05 UTC+2

Technical analysis of EUR/USD for December 05, 2022

All elements being clearly bullish market, it would be possible for traders to trade only long positions on the EUR/USD pair as long as the price remains well above

Mourad El Keddani 20:16 2022-12-05 UTC+2

December 5, 2022 : EUR/USD daily technical review and trading opportunities.

The market remained under Selling pressure until the recent bullish break above 1.0000 was achieved. Now the market remains under buying pressure until significant downside rejection occurs around

Mohamed Samy 18:27 2022-12-05 UTC+2

December 5, 2022 : EUR/USD Intraday technical analysis and trading plan.

Price action around this key-level (1.0500) should be watched cautiously for further continuation or bearish reversal. On the other hand, any quick bearish pullback towards the price levels of 1.0000

Mohamed Samy 18:18 2022-12-05 UTC+2
Can't speak right now?
Ask your question in the chat.