GBPUSD SELLING HEADING TO ALL-TIME LOWS

23 нояб.

GBPUSD forecast for November 20, 2024 depends on several economic and political factors from both the UK and the US. Here are some key points based on the overall analysis and trends observed in the markets:

1. **Technical Analysis:**
- According to recent posts on X and technical analysis available online, GBPUSD has shown a consolidation trend with possible breakout signals. It is mentioned that the pair is near a key resistance level around 1.2700, and if this level is broken, it could target 1.281.

2. **Economic Factors:**
- Inflation in the UK, as reflected in the CPI data, could influence the pound. If inflation persists, it could put pressure on the Bank of England to maintain or raise interest rates, which generally strengthens the currency.
- In the US, the policies of the new government under Donald Trump from January 2025 could affect the dollar. The fiscal, trade and immigration policies announced so far suggest a potential strength for the dollar if implemented in a favorable manner for the economy.

3. **Market Sentiment Analysis:**
- Releases on X indicate a mixed sentiment. Some analysts suggest buying if GBPUSD holds above certain support levels, while others recommend selling on a rise anticipating a correction if the pair fails to hold above the mentioned resistance.

4. **Short-Term Outlook:**
- If GBPUSD breaks the 1.2700 resistance, we could see a move towards 1.2800-1.2810, as suggested in recent analysis.
- In case it fails to break this resistance and instead falls below key support levels like 1.2673, the pair could retreat towards support levels like 1.2588.

It is important to remember that the Forex market is highly volatile and projections can change quickly based on economic news, politics and unforeseen events. To trade effectively, it is essential to stay up to date with economic news and adjust trading strategies accordingly. GBPUSD