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1. Forex Forecast
(19-11-2018)
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2. GBP/USD
GBPUSD took support form 1.2765 price hande and take an upside after a big fall a day
before more over prices are trading in a range bound of 1.3300 to 1.2700 we expect a
good breakout in coming days from this price bracket.
Technical:
An evening doji star pattern is formed on a day chart which is a sign of Bearish
Reversal, hence we also saw some positive action in the currency as well this upside is
expected to be continued for 1.3000 handle as well.
Support & Resistance:
At part of support and resistance 1.3000 becomes a first resistance and 1.3150 can be
treated as a second resistance, on other hand 1.2760 is acting as a major support and
1.2650 can be next support.
Forecasting:
Looking on the charts we expect some upside in coming days, where prices can hit to
1.2900 and 1.3000 following a support of 1.2750. if we saw any down side below
1.2750 handle closing buy position would be preferable.
Fundamental:
Talking about the fundamental or data release for coming week we will be getting
Inflation Report of GBP on 20th Nov, which can bring direct change or impact on
currency values.