Could GBPUSD drop to the 1.1156 level?
|Weekly forecast (November 14 – 18, 2022)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1.1612, which will be followed by reaching resistance level 1.1965 and if it keeps on moving up above that level, we may expect the market to reach resistance level 1.2306.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1.1612, which will be followed by moving down to support level 1.1156.
Monthly forecast, November 2022
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1.1438, which will be followed by reaching resistance level 1.1965 – 1.2306.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 1.1438, which will be followed by moving down to support level 1.0937 and 1.0392.
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