GBP/USD and EUR/GBP At Risk of More Losses

23 November 2021, 17:14
FXOpen
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GBP/USD is struggling to clear the 1.3500 resistance zone. EUR/GBP is declining and remains at a risk of more losses below the 0.8380 support.

Important Takeaways for GBP/USD and EUR/GBP

· The British Pound is facing resistance near the 1.3500 and 1.3510 levels.

· There was a break below a key bullish trend line with support near 1.3460 on the hourly chart of GBP/USD.

· EUR/GBP started a fresh decline from well above the 0.8550 pivot level.

· There is a major bearish trend line forming with resistance near 0.8420 on the hourly chart.

GBP/USD Technical Analysis

The British Pound found support near 1.3350 and started a decent recovery the US Dollar. The GBP/USD pair climbed higher above the 1.3400 and 1.3450 levels.

The pair even spiked above the 1.3500 level, but there was no upside continuation. A high is formed near 1.3512 on FXOpen and the pair is now declining. The pair traded below the 1.3480 and 1.3450 support levels to enter a bearish zone.....More  info:  blog  FXOpen 

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