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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Forecast for GBP/USD on November 21, 2022
22:02 2022-11-20 UTC--5
Exchange Rates analysis

After three days of the pound's unsuccessful attacks on resistance at 1.1940, the price is now pulling back with the intention to overcome support at 1.1737. This is indicated by the Marlin Oscillator intensifying the downward movement after creating a divergence with the price. Settling below 1.1737 would open the 1.1500 target.

On the four-hour chart, the price is currently struggling with the support of the balance line indicator, a withdrawal under which can develop a decline in the medium term.

analytics637ae8e92d8c5.jpg

The MACD line is at the 1.1737 level, accordingly, overcoming this support will strengthen the pound's downward mood in the medium-term. The price is currently regaining the initial impulse, set by the reversal of the Marlin Oscillator from the zero line (arrow).

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.