Daily Market Analysis 18|11|2020: GBPUSD

Daily Analysis / Learning Strategies

Daily Market Analysis 18|11|2020: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bearish Preference: 
A sell is envisaged when price trades below 1.32241 with take profit at 1.32041
Bullish Preference: 
Buy if price trades above 1.32738 with take profit at 1.32938
No Major fundamental(s).

Comment: The U.S. dollar continues to lose ground against a broad basket of currencies. Today, foreign exchange market traders will focus on Brexit news and inflation data from the UK. Time is running out for EU and UK to reach a compromise deal but recent reports suggest that both sides moved closer to a deal.
In recent trading sessions, the pound was supported by optimism about a successful deal so any negative news on this front will put serious pressure on the British currency.

Analysis: SCRUM Team

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