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22.11.201906:22 Forex Analysis & Reviews: Forecast for GBP/USD on November 22, 2019

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GBP/USD

The volatility of the British pound was more than 70 points yesterday, it closed the day down by 18 points. In general, the technical situation for GBP SD has not changed, a triple peak is forming. The purpose of the fall is the correctional level of 23.6% at the price of 1.2767, which coincides with the low of November 8th. Below it lies the second target 1.2703, the MACD line is aiming for this level.

On the four-hour chart, yesterday's price growth did not reach the target level of 1.2975, determined by the Fibonacci correction of 100.0% and instead fell to the level of 61.8%. The signal line of the Marlin oscillator returned to the negative trend zone. We are waiting for the price to fall further. Intermediate goals when moving towards the main goal 1.2768: 1.2872 (50.0% Fibonacci), 1.2847 (28.2%), 1.2817 (23.6%).

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