empty
20.11.2024 10:13 AM
EUR/USD and GBP/USD on November 20 – Technical Analysis

EUR/USD

This image is no longer relevant

Higher Timeframes:

After testing the support at the first weekly Ichimoku breakout target (1.0497), the pair slowed down and entered a consolidation phase. Key downside targets such as the weekly goal (1.0497 – 1.0410) and the monthly mid-term trend support (1.0454) remain intact. If the pair exits the consolidation zone to the upside, market interest will likely shift to the resistance zone at 1.0649 – 1.0729 – 1.0771, where levels from different timeframes converge.

This image is no longer relevant

H4 – H1:

On the lower timeframes, the pair has consolidated above the key levels at 1.0567-74 (weekly long-term trend + central daily Pivot level), giving the bulls the upper hand. Intraday bullish targets include classic Pivot resistance levels (1.0623 – 1.0651 – 1.0700).

However, if the market loses these key supports (1.0567 – 1.0574), bears will regain control and aim for classic Pivot supports (1.0546 – 1.0497 – 1.0469).

***

GBP/USD

This image is no longer relevant

Higher Timeframes:

Recently, the pound neared a strong support zone, which includes the daily Ichimoku breakout target (1.2592 – 1.2498), the weekly Ichimoku cloud (1.2563 – 1.2587), and the monthly support (1.2474). These levels have slowed the downtrend, giving the bears a pause. If this slowdown becomes a correction, the market will first encounter daily Ichimoku cross resistances (1.2792 – 1.2836) and the monthly short-term trend (1.2866).

This image is no longer relevant

H4 – H1:

In the lower timeframes, the pair moved above the key levels at 1.2659-70 (central daily Pivot + weekly long-term trend), providing the bulls an advantage. Intraday bullish targets lie at classic Pivot resistance levels (1.2707 – 1.2735 – 1.2783).

If the trend reverses again and the pair moves below the key levels, bearish momentum may develop. Intraday downside targets include classic Pivot supports at 1.2631 – 1.2583 – 1.2555.


Indicators Used:

  • Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
  • Lower Timeframes (H1): Classic Pivot Points + Moving Average 120 (weekly long-term trend).
Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forex forecast 25/04/2025: EUR/USD, GBP/USD, USD/JPY and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 12:25 2025-04-25 UTC+2

Trading Signals for EUR/USD for April 24-26, 2025: sell below 1.1435 (21 SMA - 7/8 Murray)

Early in the American session, the EUR/USD pair is trading around 1.1358 within the downtrend channel formed on April 18. The pair is under bearish pressure. We believe the instrument

Dimitrios Zappas 17:06 2025-04-24 UTC+2

Forex forecast 24/04/2025: EUR/USD, GBP/USD, SP500, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 13:25 2025-04-24 UTC+2

GOLD. Gold Prices May Significantly Decline in the Near Future

Gold prices have recently seen a notable correction amid market expectations of the start of real negotiations between the U.S. and China on tariffs and overall trade. Treasury Secretary

Pati Gani 09:38 2025-04-24 UTC+2

Technical Analysis of Price Movement of Silver Commodity Instrument, Thursday April 24, 2025.

On the 4-hour chart, the Silver commodity instrument is visible even though its condition is strengthening where this is confirmed by the movement of the Silver price which is moving

Arief Makmur 06:18 2025-04-24 UTC+2

Technical Analysis of Price Movement of Nasdaq 100 Index, Thursday April 24, 2025.

Although on the 4-hour chart the Nasdaq 100 index is Sideways, the range is quite large so that there is still a fairly promising opportunity in the index. Currently

Arief Makmur 06:18 2025-04-24 UTC+2

Trading Signals for GOLD (XAU/USD) for April 23-25, 2025: sell below $3,333 (200 EMA - 6/8 Murray)

Our trading plan for the next few hours is to sell gold below $3,333, with targets at $3,313 and $3,291. We can buy above $3,280 with short-term targets at $3,437

Dimitrios Zappas 14:31 2025-04-23 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, April 23, 2025.

With the appearance of Divergence between the price movement of the AUD/JPY cross currency pair with the Stochastic Oscillator indicator and the price movement of AUD/JPY which is above

Arief Makmur 06:37 2025-04-23 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Wednesday, April 23, 2025.

If we look at the 4-hour chart, the Gold commodity instrument appears to still be moving in a Bullish bias, but with the appearance of Divergence between the Gold price

Arief Makmur 06:37 2025-04-23 UTC+2

Forex forecast 22/04/2025: EUR/USD, GBP/USD, USD/JPY and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:08 2025-04-22 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.