09 Nov GBPUSD Weekly Chart November 2019
GBPUSD Weekly Chart November 2019
Red = Support
These two kinds of noisy white thick lines are representing the price channel of resistances.
GBP/USD has formed Head & Shoulders pattern from 2017 until this summer. The bearish times have been seen already so I’d predict bullish if this was the only factor that we have to think about.
The real question here is that if GB is leaving from the EU with no-deal Brexit or with a deal. This is pretty much everything that matters for GBP/USD in the next two months.
For GBP/USD I would recommend waiting. If you are willing to take the risk, I would short it at 1.28-1.3 all the way to 1.24. This would already make you 3-4% of profit without any leverage.
Also, check out the technical analysis of NDX, SPX and DJI indexes for November 2019