Technical analysis on GBP/USD on November 07, 2023

The pair is expected to drop higher towards at least 1.2460 with a view to test the daily pivot point. The level of 1.2543 will act as strong resistance and the double top is already set at the point of 1.2543. On the other hand, if a breakout happens at the support level of 1.2205, then this scenario may become invalidated.

The material has been provided by InstaForex Company – www.instaforex.com