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FX.co ★ Forecast for GBP/USD on November 24, 2020

Forecast for GBP/USD on November 24, 2020

GBP/USD

The British pound increased by 120 points yesterday, having reached the target range of 1.3350/80 with a slight overlap. The price significantly fell in the evening and this showed the main thing - the intention to form a divergence with the Marlin oscillator on the daily chart. If it turns out to be a black candle, then the divergence will take place. The price's closest target will be the MACD line at 1.3190. Getting the pair to settle below it opens the second target at 1.3050.

Forecast for GBP/USD on November 24, 2020

The four-hour chart shows that the MACD line restrained the price from pulling back. To confirm the pound's intention to decline, it needs to settle below the 1.3287 level. After that a target will open along the MACD line of the higher scale at 1.3190. Until this moment, there is a risk that the price will go beyond yesterday's high and rise to 1.3480.

Forecast for GBP/USD on November 24, 2020

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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