GBP/USD Price Prediction – November 15
As there has been a sign of weaknesses in the GBP/USD market bears, pushing the pace for quite a while, the pairing fiat coin market currently surges higher past the SMA points. The trading zones have shifted to higher lines between 1.17402 and 1.20289, keeping a minute percentage rate of 0.89 positives.
GBP/USD Market
Key Levels:
Resistance levels: 1.2000, 1.2100, 1.2200
Support levels: 1.1500, 1.1400, 1.1300
GBP/USD – Daily Chart
The GBP/USD daily chart reveals that the currency pair market surges higher past SMA points. The 14-day SMA indicator is at 1.14815, underneath the 1.16810 value line of the 50-day SMA indicator. The upper horizontal line drew at the 1.1500 support level, making the line price likely to fall back into previous range-bound zones. The Stochastic Oscillators have penetrated the overbought region, maintaining 86.96 and 94.77 levels in the upside direction.
Will there be more uprisings beyond the 1.2000 resistance level in the GBP/USD market?
Currently, the market is experiencing some loss of points, having touched the 1.2000 resistance level during today’s ongoing session as the price surges higher past SMA points. The value line of the 50-day SMA at 1.16810 will serve as the first pivotal support line that buyers heed not to let the market reverses to maintain pushes to the upside.
On the downside of the technical analysis, as the price hit resistance around the 1.2000 line, it shows an overhead barrier will build soon around or below the trading point mentioned. A decent selling order position will achieve if the price tends to have several rejection signs around the value line.
Finally, as the GBP/USD market reaches resistance near 1.2000, bears may seize control of the following sessions. Bulls should be cautious about executing new orders, even if the price action appears to be moving up more.
GBP/USD 4-hour Chart
The GBP/USD medium-term chart reveals that the currency pair market surges higher past the SMAs to the extent of tempting to break the upper bullish trend line. The 14-day SMA indicator is at 1.17047 above the 1.15185 value line of the 50-day SMA indicator. The Stochastic Oscillators are around 55.39 and 44.94 levels, signifying the possibility of crossing back southbound. That suggests that sellers are somewhat returning to a course of action to prevail in the market.
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