empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

18.11.202204:54 Forex Analysis & Reviews: Forecast for GBP/USD on November 18, 2022

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.

Yesterday, the British pound made the first attempt to turn around from the resistance of 1.1940, in fact, it had an idea to make a correction from the entire 16-figure growth since September 26. The task is difficult, so the price has not yet decided to attack the support at 1.1737. The price divergence with the Marlin Oscillator is gaining momentum. Such an attack will probably take place next week.

The immediate task is for the price to not go up after testing this support.

Exchange Rates 18.11.2022 analysis

UK retail sales data will be released today – forecast for October is 0.3% after the September collapse of 1.4%. The forecast for sales of secondary housing in the US in October is 4.38 million against 4.71 million a month earlier, so in the end we do not expect active dollar action in the fight against the pound today.

Exchange Rates 18.11.2022 analysis

The price received support from the balance indicator line on the H4 chart. The Marlin Oscillator is in the downward trend area. Therefore, the development of growth is still difficult. At the moment, the main scenario for the pound is a sideways movement in the range of 1.1737-1.1940.

Laurie Bailey
Analytical expert of InstaForex
© 2007-2024

Open trading account

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




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off