Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
GBPUSD Price Analysis – November 8
The GBPUSD has ticked higher up past the 1.3150 level against a broadly weaker US dollar in the prior session to reach the recent high of its trading range, at the 1.3177 level. The British Pound was undermined by Brexit challenges, as another week went by with significant disparity staying on key levels.
Key Levels
Resistance Levels: 1.3514, 1.3356, 1.3267
Support Levels: 1.3007, 1.2881, 1.2675
GBPUSD Long term Trend: Ranging
The daily chart implies that the pair has consolidated beyond its 5 and 13 moving averages, which lack directional strength, while the relative strength index is consolidating just beyond its midlines. GBPUSD is trading sideways, now testing highs around 1.3177 level as the US dollar stays weak.
In a broader context, attention stays at the key resistance level of 1.3514. A decisive breakout may occur on sustained trading outside of the ascending trendline support, which is now at 1.3007. The pattern may validate a mid-term bottom at 1.1409. Nonetheless, a deviation at 1.3514 will preserve medium-term bearish sentiment for another decline beneath 1.1409 at a later phase.
GBPUSD Short-term Trend: Bullish
GBPUSD stayed in the 1.2881/1.3175 range last week and the trend is unaltered. The initial bias stays neutral for now. On the other hand, a breach of the 1.3177 level could resume the bounce from 1.2675 to retest the 1.13482 high.
On the other hand, a breach of 1.2853 support could lead to a retest of 1.2675 as well as a 38.2% retracement from 1.1409 to 1.3482 at 1.2750 levels. The pair needs to breach beyond 1.3177 to continue gaining, but the pair requires a strong positive Brexit catalyst to stay bullish.
Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
