GBPUSD Forecast And Technical Analysis Nov 8th

After a sharp recovery from the low of 1.3109 yesterday, the GBPUSD traded in a sideways manner around 1.3170 in Asia.

GBPUSD is being priced 1.31700 currently.
10-year US-UK yield spread is on the rise.

On the H4 Chart we see a bear flag pattern. Currently, the flag resistance/support levels are 1.32100 and 1.3124. A downside break of the flag pattern would trigger the continuation of the downside movement started on Nov 1st.

Smaller time chart frames:



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