Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
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.
Market Analysis – November 2
GBPUSD struggles to gain ground. The pair is currently experiencing a struggle to gain ground due to various market dynamics. Sellers have faced challenges expressing their influence this week. This is primarily because of a lack of strong bearish momentum.
Conversely, buyers also lack the necessary strength to dominate the market flow. As a result, GBPUSD has been moving within a consolidation phase, with neither side willing to give up ground.
GBPUSD Key Levels
Resistance Levels: 1.31640, 1.27850
Support Levels: 1.25360, 1.20330
GBPUSD Long-Term Trend: Bearish
The GBPUSD exchange rate has remained in a relatively stable range between 1.23420 and 1.20330 for several weeks. In the first few days of October, buyers attempted to push the price up towards the 1.23420 significant zone. However, their efforts fell short, and they couldn’t sustain a move beyond this level.
The Bollinger Bands, which represent price volatility, are showing low volatility on the daily chart. This implies that a breakout could occur in either direction, depending on which side exerts more effort. However, at the moment, the bearish side seems to have the upper hand.
The Moving Average Convergence and Divergence (MACD) indicator further reinforces the bearish sentiment. The MACD’s signal line is positioned below the 0.00 significant level. It indicates that the bears currently have more influence on the market.
GBPUSD Short-Term Trend: Bearish
In the short term, the struggle between buyers and sellers continues to persist. Both sides need to gather more strength and conviction before a decisive breakout can occur in the GBPUSD pair.
You can purchase Lucky Block here. Buy LBLOCK
Note: Learn2.trade 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
