Today News: GBP/USD [24 Nov 2021] - Dailyforextrading.net

GBP/USD pound's struggles to
break above 1.3400

GBPUSD has erased last week’s gains, which barely
touched the 1.3500 level, bringing its 2021
low of 1.3352 back into scope.

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GBP/USD drops

Renewed talk of Bank of England (BoE) rate hikes
has done nothing to lift GBP/USD, as the pair
heads back to the lows of mid-month.

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Support At 1.3375 In Sight

GBP/USD is currently moving towards the support level
at 1.3375 while the U.S. dollar is gaining some
ground against a broad basket of currencies.

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GBP/USD holds onto corrective
pullback from yearly low

GBP/USD bounces off intraday low to extend the previous
day’s U-turn from the 2021 bottom, around 1.3380
during Wednesday’s Asian session.

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 Will the GBP/USD price retreat reverse?

The technical analysis of the GBPUSD price chart on a 1-hour timeframe
shows GBPUSD: H1 failed to breach the resistance
line under the 200-period moving average

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GBP/USD reached a new year-to-date low at1.3342 though bounced off towards 1.3370s

During the New York session, the British pound grinds
lower, barely down 0.05%, trading at
1.3384 at press time.

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