CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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30.11.202107:05 Forex Analysis & Reviews: Trading plan for GBP/USD on November 30, 2021

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.

A flat movement is formed on the GBP/USD pair on the third day, which indicates a balance in the number of limit buyers and sellers. It should be noted that leaving the zone with a pin will indicate further trading direction.

Today, the pair is in between two significant zones. The Weekly Control Zone 1/2 1.3283-1.3266 acts as support, which was already tested on Friday. Meanwhile, the Weekly Control Zone 1/4 1.3371-1.3363 acts as resistance.

As long as the pair is trading in a range and there is no direction, neither buying nor selling is profitable. In order to open a safe trade, it is necessary to close the day trading outside one of these zones.

Exchange Rates 30.11.2021 analysis

Any of the above options will be beneficial. It is important that we can determine the further direction. If the pair continues to trade flat, it is better to look for opportunities on other instruments that are already forming growth patterns against the US dollar. The pattern of a "false breakdown" of any of the extremes will only strengthen the further movement in the opposite direction.

Samanta Kruder
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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