GBP/USD – The rally continues

In our previous analysis of the GBP/USD, we had mentioned a reaction low around November 27. If this low is not breached again, the reversal date is confirmed (0 day tolerance) and an upward movement should take place until around December 4th.

The following parameters remain unchanged:

Target price: 1.34386 USD
Supports: 1.31962 and 1.31064 USD.

The hit probability (27.11. to 04.12.2020) is about 80%.