FX.co - GBPUSD analsysis for November 30, 2022 - Potential for the upside continuation

2022-11-30T07:46:12

Relevance until2022-12-01

Technical analysis:

GBPUSD analsysis for November 30, 2022 - Potential for the upside continuation

GBP/USD has been trading sideways at the price of 1.1962. Anyway, I see potential for the further upside continuation and test of upside references.

Trading recommendation:

Due to the strong upside pressure in the background and rejection of the key support at 1.1940, I see potential for the further rise.

Watch for the potential buying opportunities on the intraday dips with the upside objectives at the price of 1.2157 and 1.2320.

MACD oscillator is showing oversold condition and bullish divergence, which is good sign for further rally.

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 30, 2022 - Potential for the upside continuation