Instant account opening
Trading Platform

20.11.202321:58 Forex Analysis & Reviews: November 20, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

Exchange Rates 20.11.2023 analysis

The GBP/USD pair faced a strong resistance near 1.3200 and started a fresh downtrend.

It broke the 1.2800 then 1.2600 support levels on a H4 candlestick and extended its decline towards 1.2500 where the pair showed some indecision in a tight range before resuming its bearish trend.

The next target for the bears was located around 1.2150, where another zone of indecision has been established.

A break below this level could open the doors for more losses towards 1.1850. However, significant bullish recovery has been expressed upon the repeated visits that occurred during this month.

On the other hand, the current bullish recovery towards 1.2700 should be seen as another chance to sell.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Mohamed Samy,
Analytical expert of InstaSpot
© 2007-2023
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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

Can't speak right now?
Ask your question in the chat.