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GBPUSD → Flat continues. The price is directed to the support

2023-11-10 08:52 FOREX forecast

💡Ideas For GBPUSD 🇬🇧/🇺🇸

📈 GBPUSD → Flat continues. The price is directed to the support

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#GBPUSD has been declining since the opening of the session, the reason for this is the positive GDP data for the US market. As the flat continues, there is a high probability that the price will decline to the support at 1.2117 before we see growth

On the senior timeframe we see an inverse correlation with the

#DXY. A false breakdown of the range boundary is formed and the price of the currency pair is declining along with the trend. The actual and only target at the moment may be the support at 1.21100, below which there is a huge pool of liquidity.

Yesterday Powell made his speech and as before he did not say anything clear regarding inflation and the rate. The Fed chief made it clear that the system remains on pause, but makes it clear that this does not mean that the rate hike is over.

Support levels: 1.2155, 1.2117

Resistance levels: 1.2272, 1.23000, 1.2421

GBPUSD is now controlled by the standard intra-range trading strategy: sell from resistance and buy from support. At the moment the actual target is 1.2117

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#GBPUSD 🇬🇧/🇺🇸

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