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27.11.202405:02 Forex Analysis & Reviews: Forecast for GBP/USD on November 27, 2024

Relevance up to 21:00 2024-11-27 UTC--5

On Tuesday, the British pound precisely tested both boundaries of the consolidation range at 1.2510-1.2612. Despite the currency's seemingly neutral stance, the Marlin oscillator continued its upward movement. The price is signaling a potential breakout above the 1.2612 level.

Exchange Rates 27.11.2024 analysis

The Marlin oscillator's signal line is also nearing a breakout from its descending channel. A price breakout above the resistance at 1.2612 will open the way to the first target of corrective growth at 1.2708, with the possibility of further advancement to 1.2773.

Conversely, if the price reverses and moves below the 1.2510 support, it will target the first bearish goal at 1.2447, followed by 1.2367.

Exchange Rates 27.11.2024 analysis

In the H4 time frame, the price is developing below both indicator lines, and the resistance is at 1.2612. The Marlin oscillator consolidates in the negative zone, forming a wedge signaling an impending impulsive breakout. We await further developments to confirm the direction.

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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