12.11.201917:08 Forex Analysis & Reviews: GBP/USD 11.12.2019 - Potential end of the downwad correciton, weatch for buying opportuntiies

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD is trading sideways at the price of 1.2845. Anyway, I see that there is potential for further upside and potential testing of resistance levels at 1.2897 and 1.2972. Watch for buying opportunities

I found that there is potential for the completion of the ABC downward correction on the 4H time-frame and eventual new up leg. In the background, I found that there is the breakout of the downward channel, which is good addition to the GBP potential strength. Resistance levels are set at 1.2897 and 1.2972. Support level is seen at the price of 1.2814.

Back to the list

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.