GBP/USD analysis for November, 2023 – Symmetrical tirnagle in creation
November 3, 2023 11:24 am
Technical analysis:
GBP/USD has been trading sideways at the price of 1.1220 and it is still trading inside of the symmetrical triangle pattern. There is potential for the breakout in the net period.
In case of the upside breakout of the resistance at 1.2285, there is potential for the growth towards 1.2460
In case of the downside breakout of the support at 1.2040, there is potential for the drop towards the 1.1800
RSI oscillator is showing reading around 50, which is sign of indecision.
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
GBP/USD has been trading sideways at the price of 1.1220 and it is still trading inside of the symmetrical triangle pattern. There is potential for the breakout in the net period.
In case of the upside breakout of the resistance at 1.2285, there is potential for the growth towards 1.2460
In case of the downside breakout of the support at 1.2040, there is potential for the drop towards the 1.1800
RSI oscillator is showing reading around 50, which is sign of indecision.
The material has been provided by InstaForex Company – www.instaforex.com
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