T Analysis

GBPUSD analysis for 19.11.2020

CBI industrial order books balance will be published in the UK. GBP has the potential to grow only if there is a progress on Brexit talks.
The price hit 1.33100 and faced strong resistance. The support remains at 1.32680 and the resistance goes to 1.33150. The weekly pivot point is staying in the middle at 1.32070. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 100 and 200. The Stochastic is showing downward momentum. The RSI is moving on level 50. The MACD line is in negative territory and the ADX is showing sell signals.
The bearish pressure may push the price down towards 1.31300.

gbpusd
Source: fxglory