GBP / USD AND EUR / USD PAIRS STILL IN “STRONG BULLISH”

30.11.2020
Technical Analysis
The sharp increase in the GBP / USD and EUR / USD pairs since March 2020 continues to this day. The EUR / USD pair is currently trading at $ 1,970 and is expected to approach $ 1,200.



At the $ 1,200 level, it is expected that the price will make a slight correction as the level is a resistance level (previous resistant line) before waiting for some important economic data to be published this week and determine the long-term direction of this pair.

We expect prices to continue to climb to the level of $ 1.22 - $ 1.24 for a long period of time, depending on economic data that will emerge over time.



As for the GBP / USD pair, the same situation occurs in this pair where the current movement trend is still in a "strong bullish" state.



The price is currently trading at the $ 1.33 level and is approaching the $ 1,348 level which is the nearest resistant line level. We expect prices to soar to near $ 1.40 for the long term.



If you are interested in buying these two pairs, be wary of price corrections that will occur over time.

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AHMAD FAIZUDDIN BIN RAZALI

ANALYST OF CDG GLOBAL