FX.co - GBPUSD analsysis for November 29, 2022 - Potential for the upside continuation

2022-11-29T06:55:36

Relevance until2022-11-30

Technical analysis:

GBPUSD analsysis for November 29, 2022 - Potential for the upside continuation

GBP/UISD has been trading downside yesterday but I see potential for the upside continuation of the bigger trend.

Trading recommendation:

Due to the strong upside momentum in the background, I see potential for further rally.

Watch for the potential buying opportunities on the intraday dips with the upside objective at the price of 1.2100

MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.

Key support is set at the price of 1.1940

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ GBPUSD analsysis for November 29, 2022 - Potential for the upside continuation