GBP/USD Price Prediction – November 22
Activities involved in producing pressures to the upside in the GBP/USD market are gradually weakening as the currency pate trade keeps pips below the 1.2000 resistance line over time. The present trading status shows price is around 1.18559 at a minute percentage rate of 0.29.
GBP/USD Market
Key Levels:
Resistance levels: 1.2000, 1.2100, 1.2200
Support levels: 1.1600, 1.1500, 1.1400
GBP/USD – Daily Chart
The GBP/USD daily chart reveals that the currency pair market keeps pips below the 1.1200 resistance level. There had been an attempt to touch the value line during November 18, last week Friday’s session. The 50-day SMA indicator is around 1.16990 above the 1.16006 points of the 14-day SMA indicator. The bullish channel trend lines have been to ascertain the northward pace price maintains. The Stochastic Oscillators have crossed the lines southbound to 89.23 and 85.76 levels. 
Will the GBP/USD market hold points within the bullish channels?
The spaces between the bullish channels are between the 1.2000 resistance and the 1.1600 support levels. And, the pairing fiat coin likely stays in those points for a while as trading zones. Buyers need not follow an abrupt upsurge afterward that can prolong toward breaking the higher value as the price keeps pips below it.
On the downside of the technical analysis, we believe a firm barrier has built around the 1.2000 resistance level since the GBP/USD market bulls failed to break past it during the last week’s operations. Short-position placers to look for decent entry signals before launching a shorting order.
In the summary analytics, the GBP/USD market bears are in the top post to gain control of the operation. But, they need to intensify efforts to break downward at the 1.1600 support level to keep out of the bullish trend lines drawn.
GBP/USD 4-hour Chart
The GBP/USD medium-term chart depicts the currency pair market keeps pips below the 1.2000 resistance level within the bullish trend lines. The 14-day SMA indicator is at 1.18339 above the 1.16627 value line of the 50-day SMA indicator. The Stochastic Oscillators have crossed northbound from the oversold region to position at 25.17 and 41.50 levels. At this point, traders need to consider the reading posture of the Stochastic, especially when providing an over bough condition at a high-trading point before considering the launching of a shorting order afterward.
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