MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Trading signal for GBP/USD on November 24 - 25, 2021: buy above 1.3372 or buy if rebound at 1.3305 (5/8)

analytics619e4275d0545.jpg

The British pound (GBP / USD) is under downward pressure. We can visualize on the 1-hour chart that is trading below the 21 SMA located at 1.3372. The downward movement is expected to continue to 5/8 murray around 1.3305.

The US Dollar Index (#USDX) remains in a consolidation phase around 96.77. Investors await the release of the minutes of the FOMC policy meeting. If the content reveals the hawkish rhetoric among policymakers, it may give an upward boost to the US dollar. On the contrary, a technical correction may occur that will an advantage the British pound.

Support to the downside is located at 1.3305, around the zone of 5/8 murray. At this level, a technical rebound is expected. If the pound sterling falls towards these levels, it could enter into a strong oversold stage because this support coincides with the bottom of the downtrend channel formed since October 28.

The eagle indicator is showing a bullish bias moving above a trend channel and it is likely that there may be a recovery in the coming days as long as it remains above 1.3305.

The key to watch in the next few hours is the level of the 21 SMA located at 1.3372. If GBP/USD manages to settle above this level, we can expect a bullish move to the 200 EMA located at 1.3435.

Conversely, if GBP / USD continues to trade below 1.3370 it is likely to continue the downward movement and find support at 1.3305. If your strategy is bearish, we recommend selling below 1.3372 with targets at 1.3305.

Support and Resistance Levels for November 24 - 25, 2021

Resistance (3) 1.3474

Resistance (2) 1.3435

Resistance (1) 1.3406

----------------------------

Support (1) 1.3332

Support (2) 1.3306

Support (3) 1.3271

***********************************************************

A trading tip for GBP/USD for November 24 - 25, 2021

Buy above 1.3372 (21 SMA ) or buy if rebound at 1.3305, with take profit at 1.3427 (EMA 200), stop loss below 1.3330.

The material has been provided by InstaForex Company - www.instaforex.com