empty
30.11.2023 05:57 AM
Trading Signals for GBP/USD for November 30, 2023: buy above 1.2695 (8/8 Murray - 21 SMA)

This image is no longer relevant

Early in the European session, the British pound is trading at 1.2693. The instrument is now above 8/8 Murray, above the 21 SMA, and within the uptrend channel formed since November 10.

According to the 4-hour chart, as long as the pound trades above 1.2655, there is upside potential and GBP/USD could reach the next resistance around +1/8 of Murray at 1.2817.

The GBP/USD pair is consolidating after reaching 1.2732. It suggests that the pair is expected to trade in a range between 1.2815 to 1.2650 over the next few days.

On the contrary, in case the British pound breaks below the uptrend channel and consolidates below 1.2650, it will be seen as a sell signal with targets at 1.2573 (7/8 Murray), 1.2451 (6/8 Murray), and the 200 EMA at 1.2405.

Market sentiment is that 41% are buying the British pound and 59% are selling. According to our alternative outlook, GBP/USD might continue to rise in the coming days.

The eagle indicator is reaching the overbought zone which suggests that any technical correction could be seen as a buying opportunity.

Our trading plan for the next hours is to buy the pound above 1.2695 or in case there is a pullback towards 1.2655. It will be considered a buying opportunity.

As long as GPB/USD trades within the uptrend channel, the outlook remains bullish and the target is seen at 1.2820.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for EUR/USD for March 21-24, 2025: buy above 1.0810 (+1/8Murray - rebound)

Our medium-term forecast remains bearish. So, any technical rebound will be seen as a signal to sell with a medium-term target at about 1.0361, the level where the instrument left

Dimitrios Zappas 13:22 2025-03-21 UTC+2

Trading Signals for GOLD (XAU/USD) for March 21-24, 2025: buy above $3,026 (7/8 Murray - 61.8%)

The Eagle indicator is reaching oversold levels. So, we believe that gold could resume its bullish cycle in the coming days. For this, we should expect consolidation above the psychological

Dimitrios Zappas 13:04 2025-03-21 UTC+2

Forex forecast 21/03/2025: EUR/USD, GBP/USD, USD/JPY, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 12:15 2025-03-21 UTC+2

Forex forecast 19/03/2025: EUR/USD, USD/JPY, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 12:14 2025-03-21 UTC+2

Forecast for EUR/USD on March 21, 2025

On Thursday, the EUR/USD pair continued its decline and closed below the 200.0% Fibonacci retracement level at 1.0857. This suggests that the downward move may continue toward the support zone

Samir Klishi 11:02 2025-03-21 UTC+2

Forecast for GBP/USD on March 21, 2025

On the hourly chart, the GBP/USD pair on Thursday dropped to the 1.2931 level, rebounded from it, saw a slight rise, and returned to 1.2931 again on Friday morning

Samir Klishi 10:52 2025-03-21 UTC+2

EUR/USD and GBP/USD March 21 – Technical Analysis

The pair failed to break through the resistance levels of the weekly (1.0948) and monthly (1.0943) Ichimoku clouds, retreating to the support cluster zone across multiple timeframes (1.0819–1.0856)

Evangelos Poulakis 06:25 2025-03-21 UTC+2

EUR/USD Forecast for March 21, 2025

By the end of yesterday's trading session, the euro had declined by 47 pips, retreating from an earlier attempt to break above the 1.0949 level. The support at 1.0882

Laurie Bailey 03:43 2025-03-21 UTC+2

GBP/USD Forecast for March 21, 2025

At yesterday's Bank of England meeting, only one member voted for a rate cut, compared to the expected two. Despite this, the British pound fell by 32 pips, influenced

Laurie Bailey 03:43 2025-03-21 UTC+2

AUD/USD Forecast for March 21, 2025

The Australian dollar experienced a notable decline of 58 pips yesterday, with the Marlin oscillator settling in bearish territory. However, this is not yet a signal for a developing downtrend

Laurie Bailey 03:43 2025-03-21 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.