Forex Analysis & Reviews: 23.11.2021 - Hot forecast for GBP/USD on...

Live Chat

This section features the most important information about trading with InstaForex. We provide both analysis from leading experts for experienced traders and articles on trading conditions for beginners. Our services will help increase your profit potential.

Become Trader

开户

另见

交易条件

外汇分析

图表

This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.

Start as Beginner

如何开始交易

有用信息

Training and recordings

InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.

Become Investor

PAMM 系统

外汇跟单系统

被动投资

OYS 帐户

Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.

Become Partner

主页

合作伙伴区域

同盟的优势

This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.

All Promo Campaigns

Bonuses

比赛

事件

Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.

Full details

论坛

我们在社交网络

外汇幽默

外汇门户

InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.

Learn More

History

为什么选择我们

InstaSport

法规

公司新闻

奖项

InstaForex 明星

InstaForex 线下

Headquarters

关键文件

的社会责任

InstaForex - 龙之队的官方合作伙伴

23.11.2021 09:12 AM

Hot forecast for GBP/USD on 11/23/2021

The week began with endless revisions of forecasts for US macroeconomic statistics, and exclusively for the better. But if the European session began with an increase in the forecast of today's data on business activity indices, then at the opening of the US trading session, expectations for home sales in the secondary market in the United States were slightly improved. That was the reason for the dollar's growth. So when it became known that these same sales did not decrease by 1.0%, but increased by 0.8%, the market in general did not react to this in any way. Moreover, the data themselves were published rather late.

Secondary Home Sales (United States):

Today the pound will again be marked by a further decline. The reason, of course, will be preliminary estimates of business activity indices, forecasts for which are extremely unpleasant. Thus, the index of business activity in the service sector should decrease from 59.1 points to 58.3 points. The manufacturing index may well fall from 57.8 points to 57.1 points. As a result of all this, the composite PMI will almost certainly decrease from 57.8 points to 57.3 points.

Composite PMI (UK):

Similar data for the United States, forecasts for which were revised yesterday morning, are likely to lead to the fact that the dollar will grow after the opening of the US trading session. After all, the index of business activity in the manufacturing sector should rise from 58.4 points to 58.8 points. The index of business activity in the service sector may well grow from 58.7 points to 59.0 points. As a result, the composite index should increase from 57.6 points to 58.2 points. And even if a small growth is expected, the contrast itself is important here, that in Europe there is a decrease, and in the eurozone, growth, which will become the main driving force.

Composite PMI (United States):

The GBPUSD currency pair has practically retraced its downward trend relative to the recent correction. Staying below the 1.3400 level indicates the prevailing interest in short positions. In the long term, this will lead to an update of the local low of November 12.

The technical instrument RSI in the hourly period is above the oversold zone, despite the growing interest in sell positions. This confirms the signal about the prolongation of the downward cycle to new price levels.

On the daily chart, there is a downward trend from the beginning of June, the scale of which is 880 points.

Expectations and prospects:

Keeping the price below the level of 1.3400 will eventually lead to a movement towards the pivot point of 1.3350. In the long term, the support level will be broken by speculators.

Comprehensive indicator analysis gives a sell signal based on short-term, intraday and medium-term periods in view of a downward cycle.