Could GBPUSD drop to the 1.1156 level?

Anton Kolhanov Anton Kolhanov

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.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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