Main Quotes Calendar Forum
flag

FX.co ★ Trading plan for GBP/USD on November 24, 2021

parent
Forex Analysis:::2021-11-24T06:50:05

Trading plan for GBP/USD on November 24, 2021

The GBP/USD pair has been forming a flat range for the last ten days. Yesterday's update of the monthly low led again to the emergence of demand.

If today's closing of the day turns out to be higher than yesterday's opening of the day, then the "absorption" pattern on the daily chart will form. This will open the way to buy the instrument. The upward target will be the Weekly Control Zone 1/2 1.3531-1.3514, which coincides with a significant weekly extreme.

At the moment, the priority is still to trade within the framework of the flat. It should be noted that finding the price at the lower end of the range indicates the opportunity to buy profitably when the corresponding pattern appears.

Trading plan for GBP/USD on November 24, 2021

Today's daily candle should be similar to the candle of November 12. If this happens, then purchases will come to the fore tomorrow. To continue the pair's decline, it will be necessary to close today below yesterday's low. This will indicate the appearance of new orders to buy the pound at more favorable prices.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...