FX.co ★ GBP/USD analysis for November 07, 2023 - Support zone in the play

Technical analysis:

GBP/USD has been trading downside today and I found that there is important pivot zone around $1.2260.

In case of the potential rejection of the support zone, there si the chance for the upside continuation al rally towards the 1.2420-1.2450

In case of the downside breakout and hold below support zone, there is the chance for the further drop towards 1.2110

RSI oscillator is showing reading below the 60 but still above 40, which is sign that trend condition is bullish.