GBP/USD - Analysis

30 thg 11, 2023

Analyzing the chart provided, it is evident that there was a break of the trendline earlier this month, followed by a reversal of the trend upwards. Currently, there has been a break of the supply zone and the 0.5 Fibonacci level, after which the price is undergoing a retest of the same level. The Moving Average Convergence/Divergence (MACD) divergence before the trendline adds further insight. The expectation is for the price to retest the 0.5 Fibonacci level and move upward to reach 1.3100 before the year 2024.