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18.11.201908:33 Forex Analysis & Reviews: Technical analysis for the GBP/USD currency pair for the week from November 18 to 23

Long-term review
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.

Trend analysis.

This week, the price will move down with the first target of 1.2767 – the lower fractal. If achieved, the next lower target is 1.2643 – 21 average EMA (black thin line).

Exchange Rates 18.11.2019 analysis

Fig. 1 (weekly chart).

Comprehensive analysis:

- Indicator analysis – down;

- Fibonacci levels – down;

- Volumes – down;

- Candlestick analysis – down;

- Trend analysis – down;

- Bollinger Bands – down;

- Monthly chart – down.

The conclusion of comprehensive analysis – a downward movement.

The overall result of calculating the candle of the GBP/USD currency pair according to the weekly chart: the price for weeks is more likely to have a downward trend with the presence of the first upper shadow of the weekly black candlestick (Monday – up) and the absence of the second lower shadow (Friday – down).

The first lower target of 1.2767 – the lower fractal. If achieved, the next lower target is 1.2643 – 21 average EMA (black thin line).

An unlikely scenario – from the level of 1.2910, work up with the target of 1.3011 – the upper fractal (red dashed line).

Stefan Doll
Analytical expert of InstaForex
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