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Forex Trade Signals and Setups Nov. 29th
GBPUSD – Building a Base
After selling off heavily from 1.6100 – 1.5425, the GBPUSD seems to have found a short term base in with two higher lows and higher highs shown in the chart below. Price Action is holding nicely above the 20ema which it has not done since the 18th of Nov. Recent price action has shown more impulsiveness in its upside moves then in selling off. Look for pullbacks sub 1.5550 for possible entries to go long while watching for resistance at the daily 20ema around 1.5700. Should it get past here, then 1.5900 should follow shortly after.
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