The British pound prints the first weekly candle for the November month amid the lower U.S. inflation data. The outcome of aggressive monetary policies from the US Federal Reserve Is finally supporting the market. The GBP/USD rose more than 4%, past 1.1700 and the 1.1800 psychological resistance level. The British pound also found support after the London Metal Exchange went against the western sanction on Russian metal. According to financial analysts, the domestic currency may extend its rebound toward the 1.2000 level in the next week provided the elementary catalyst keeps popping out.
Important Pivots
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 1.1812 | 1.1822 | 1.1833 | 1.1843 | 1.1854 | 1.1864 | 1.1875 |
| Fibonacci | 1.1822 | 1.1830 | 1.1835 | 1.1843 | 1.1851 | 1.1856 | 1.1864 |
| Camarilla | 1.1838 | 1.1840 | 1.1842 | 1.1843 | 1.1846 | 1.1848 | 1.1850 |
| Woodie’s | 1.1812 | 1.1822 | 1.1833 | 1.1843 | 1.1854 | 1.1864 | 1.1875 |
| DeMark’s | – | – | 1.1828 | 1.1840 | 1.1848 | – | – |
Ref link
Disclaimer
Forex trading can be extremely risky and should only be done in the presence of an expert. We do not recommend any currency pairs or options to buy or sell to our readers. Forecasts or articles available on this website do not constitute investment advice and are only for general information. Kindly consult with a professional financial advisor before using the information on this website for trading or investing.
