GBPUSD Forecast And Technical Analysis Nov 22nd
Yesterday; GBPUSD ended the day without a change with a choppy session. Price moved between the support -1.32000- and the resistance -1.32700-.
With Asia, Cable made an attempt towards 1.32700 but failed so far – trading at 1.32500.
Comparing with EURO; Sterling has much more advantages against The Dollar. However, GBPUSD needs a fresh catalyst to move higher.
1.32700 will remain as a strong resistance until a fresh catalyst appears. GBPUSD remains better bid amid a broad subdued USD after Yellen raised doubts over weak inflation is transitory.
The pair also finds support from a better risk environment reflected upon by higher Asian equities and oil prices, while the latest report from FT that the EU and UK aim to strike the Brexit divorce deal within 3 weeks, and keeps the buoyant tone intact behind the GBP.
Today, markets will be focusing on the UK Budget release.
GBPUSD Forecast and Technicals: