GBPUSD november 28th 2018 analysis
The GBPUSD currency pair has been pushing for sales recently. BREXIT’s worrying news, coupled with a rise in US dollar value, has pushed the GBPUSD’s quarterly chart below 1. 28 and the November rebound in January to 2767. As a result of this downside, the next target of the market is November 15, 2723 at November 27, and the Rand rate is $ 1.27. Also, from the technical point of view, the AB = CD pattern is also completed in January 2733.
However, on a weekly chart, the GBPUSD is in the region of demand at 1.28141 to 1.2589 and there is still no significant upside movement. On the daily GBPUSD chart, the market can penetrate the depth of the weekly demand zone. Daily GBPUSD currencies fluctuate above the bottom of the price on October 30th at 2695, and key support at 1. 2635 is still a better key to entering the GBPUSD purchase deal. Except for compliance with 1 2635 with the support line drawn from the floor of 1/1994, the pattern AB = CD will be completed at 1 2614.
Price action strategy
On a quarterly chart, you can expect a GBPUSD upside down from November 15th at 2723, which is matched by the completion of the AB = CD pattern at 1.22733. However, it is still unclear whether buyers have the strength to go up to the high of November’s 1 2767 rebound in November and the Rand rate of 1.28. Especially that GBPUSD has not yet hit the GBPUSD weekly market, and GBPUSD’s daily chart shows a weakening of the equity ratio.
However, the long-term view of GBPUSD buyers’ main focus should be on key daily support at 1. 2635. This key support is placed within the weekly demand area and is aligned with the place of completion of AB = CD in the support line line.