British Pound Price Prediction – November 9
The GBP/USD currency pair price dumps, averaging 1.3400 support level. The market has recorded a high-value line at 1.3607 and a low-value line of 1.3523, trading around 1.3557, as of writing. Price witnesses a smaller negative percentage rate of about 0.03.
GBP/USD Market
Key Levels:
Resistance levels: 1.3600, 1.3700, 1.3800
Support levels: 1.3400, 1.3300, 1.3200
GBP/USD – Daily Chart
The GBP/USD daily chart reveals that the currency pair price dumps, averaging the previous September 29 lower support level at 1.3400. A bullish candlestick has formed beneath the SMA trend lines, signifying a re-occurrence of a rebound moving motion. The 14-day SMA indicator is beneath the 50-day SMA indicator. The Stochastic Oscillators are in the oversold region, seemingly trying to cross the lines northbound close underneath the range of 20. That suggests that the currency pair market is getting prepared to make swing highs.
Will the GBP/USD market spring northward soon as the currency pair price dumps, averaging 1.3400 support?
There is a tendency for the GBP/USD market to spring northward soon as the currency pair price dumps, averaging 1.3400 support. A rebounding motion has occurred, leaving the value line to bag a baseline that the market stands the potency of reforming some northward pushes. Therefore, buyers may now dim it psychologically fit to now re-launch positions.
On the downside, the GBP/USD market sellers may presently suspend the launching of their positions for the time being. It has been indicated by the Stochastic Oscillators that the market has entered an oversold condition. In addition, a bullish candlestick has emerged to affirm the validity of the market witnessing some probable upswings in the near time.
Summarily, it now appears that the GBP/USD market operations have dumped, reaching an ideal technical support level at 1.3400 that buyers may count upon as they tend to make a come-back. Therefore, sellers needed to suspend getting re-positioned around or below that value-line.
GBP/USD 4-hour Chart
The GBP/USD 4-hour chart exhibits that the currency pair price dumps, averaging 1.3400 support level as there has been a rebounding movement, hitting resistance around 1.3600. The 50-day SMA trend line is above the 14-day SMA trend line as they both bend southward. The Stochastic Oscillators are in the overbought region, crossing the lines southbound against the range 80 That signifies that the market currently witnesses a downward force. And, if heightened, the lower support level of .3400 will be revisited.
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