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25.11.202008:44 Forex Analysis & Reviews: Indicator analysis. Daily review on the GBP/USD currency pair for November 25, 2020

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Trend analysis (Fig. 1).

Today, the market will try to continue moving upward from the level of 1.3357 (closing of yesterday's daily candle) in order to reach the upper fractal-1.3396 (daily candle from 11/23/2020). If this level is tested, there should be further upward movement with the goal of 1.3436, which is the target level of 161.8% (blue dotted line).

Exchange Rates 25.11.2020 analysis

Figure 1 (daily chart).

Comprehensive analysis:

  • Indicator analysis - up;
  • Fibonacci levels - up;
  • Volumes - up;
  • Candlestick analysis - down;
  • Trend analysis - up;
  • Bollinger bands - up;
  • Weekly chart - up.

General conclusion:

Today, the price from the level of 1.3357 (closing of yesterday's daily candle) will try to continue moving upward to reach the upper fractal of 1.3396 (daily candle from 11/23/2020). If this level is tested, there should be further upward movement with the goal of 1.3436, which is the target level of 161.8% (blue dotted line).

Unlikely scenario: from the level of 1.3357 (closing of yesterday's daily candle), the price will try to start moving downward with the goal of reaching the pullback level of 14.6% - 1.3290 (red dotted line). If this level is tested, it is necessary to continue working downward to the target of 1.3225, which is the pullback level of 23.6% (red dotted line).

Stefan Doll
Analytical expert of InstaForex
© 2007-2024

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