empty
21.11.2024 04:49 AM
Forecast for GBP/USD on November 21, 2024

On Wednesday, the British pound tested the 1.2708 resistance level but retreated downward despite the Marlin oscillator moving toward the upper boundary of its descending channel.

This image is no longer relevant

The incomplete use of the channel's full range leaves the price with an opportunity to break above 1.2708 again and aim for 1.2773. If the price moves below the 1.2612 support, it will likely continue its decline toward 1.2510.

On the H4 chart, the price is attempting to rise above the balance line, supported by the Marlin oscillator, which is developing in positive territory.

This image is no longer relevant

The MACD line further strengthens the 1.2708 resistance. While the price may struggle to surpass this level, pausing here could allow the daily Marlin oscillator to complete its channel. A consolidation above 1.2708 would open the way toward the 1.2773 target.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forex forecast 12/02/2025: EUR/USD, GBP/USD, USDX, Gold, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:07 2025-02-12 UTC+2

EUR/USD – February 12th: Powell Confirms FOMC's Hawkish Stance

On Tuesday, EUR/USD reversed in favor of the euro around the 23.6% Fibonacci retracement level at 1.0288 and began a new upward movement. Bulls managed to push the pair

Samir Klishi 10:43 2025-02-12 UTC+2

EUR/USD and GBP/USD February 12 – Technical Analysis of the Situation

Another downward gap has been closed, and the pair has returned to the weekly short-term trend level (1.0357). In addition to the weekly Tenkan, the daily Ichimoku influences this chart

Evangelos Poulakis 10:40 2025-02-12 UTC+2

GBP/USD – February 12th: All Eyes on the U.S. Inflation Report

On the hourly chart, GBP/USD reversed in favor of the pound below the 1.2363 – 1.2370 support zone and started a new upward movement toward the 1.2488 – 1.2508 resistance

Samir Klishi 10:31 2025-02-12 UTC+2

EUR/USD Forecast for February 12, 2025

During yesterday's speech in the House of Representatives, Jerome Powell did not provide any new information, reiterating that there is no immediate need for a rate cut. Additionally, the expected

Laurie Bailey 08:30 2025-02-12 UTC+2

GBP/USD Forecast for February 12, 2025

At the end of yesterday's trading session, GBP/USD gained 77 pips. Contrary to expectations, instead of consolidating below the 1.2367 level, the price consolidated above it after briefly testing that

Laurie Bailey 08:21 2025-02-12 UTC+2

AUD/USD Forecast for February 12, 2025

On Monday, the Australian dollar consolidated above the 0.6273 level, confirming bullish momentum. The next target is set at 0.6351, and a breakout above this level could pave

Laurie Bailey 08:21 2025-02-12 UTC+2

Bitcoin Forecast for February 12, 2025

On the daily chart, Bitcoin has struggled to break above the balance indicator line (red moving average), indicating that market participants are focused on selling. The Marlin oscillator continues

Laurie Bailey 08:21 2025-02-12 UTC+2

Technical Analysis of Intraday Price Movement of Natural Gas Commodity Instrument, Wednesday February 12, 2025.

There are two interesting things on the 4-hour chart of the Natural Gas commodity instrument, first the emergence of the Rising Wedge pattern and second the divergence between the #NG

Arief Makmur 07:59 2025-02-12 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday February 12, 2025.

On the 4-hour chart, the AUD/JPY cross currency pair appears to have a Descending Broadening Wedge pattern and divergence between the AUD/JPY price movement and the Awesome Oscillator indicator

Arief Makmur 07:59 2025-02-12 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.