Weekly Technical Analysis Report 3 Nov – Bullish outlook on GBPUSD
November 3, 2023
Weekly Technical Analysis Report 3 Nov – Bullish outlook on GBPUSD
1. This week’s outlook on GBPUSD: Bullish outlook seen
On the H4 timeframe, price has broken above upside confirmation level of 1.2280, which could see a throwback to the key support level at 1.2190, which coincides with the 61.8% Fibonacci Retracement. A throwback to this zone could send prices higher towards next key resistance level at 1.2320, which is in line with the 161.8% Fibonacci extension. Price is hovering above the Ichimoku cloud and 20 EMA, supporting bullish bias.
Bullish Outlook on GBPUSD – 3rd November by Salzworth on TradingView.com
