Hello Traders,
It’s the last week of the month of November. Let’s see what the charts has for us
1. GBP/USD
The GBP/USD has maintained a bullish outlook all through last week
This week what we should be looking out for is how price reacts to resistance level 1.33105.
A reversal would mean waiting for a sell confirmation. For me, the ascending trendline is enough confirmation guidance. A breakout of price through the ascending trendline means price will most likely re-visit support level 1.31939
If the bulls resume this week with a bang and break resistance level 1.33105, then we may see price move up to resistance level 1.34656
2. GBP/JPY
The GBP/JPY bullish move lost week was hindered by the roof of a descending channel.
If the bulls are strong enough this week, we may see a bullish breakout of price through the minor descending channel, and if that happens, there is a possibility that price may hit resistance level 138.870
Let’s also remind ourselves that the minor descending channel could also reject price, which may either cause a consolidation of price within the minor channel or a breakout of price through the major ascending channel.
What say you?
For those who are interested in joining our FREE trading group on Telegram, where trade ideas are discussed, which may assist your trading career while being infected by positive vibes
Smash the link: https://t.me/joinchat/FN30PxlwXbk2BcuTDdH5yg
If you are also new to forex trading or you are looking for a reliable broker with:
- Competitive spreads which is a big plus if you are a scalper
- Fast withdrawals or
- A platform where you can trade currencies, stocks, commodities, and indices trading
Search no further as Mtrading meets most trader’s requirements, and I am personally satisfied with them.
