Level and Target Adjustments for the U.S. Session – November 26th

The GBP/USD pair rose nearly to 1.3200 ahead of the UK autumn budget announcement.

The prospect of peace regarding the Ukraine situation could significantly reduce global geopolitical tension. Against this backdrop, the price of gold, as a safe-haven asset, may resume its decline.

The USD/CHF pair has been declining for the second day in a row amid the ongoing sell-off of the US dollar.

The bullish traders have taken the first step and, after a long pause, have moved on to the second.

The bulls have become more active, but they still need to make one more push.

Technical analysis of EUR/USD, USD/JPY, GBP/USD, Gold and Bitcoin

On Tuesday, the pair moved upward to the resistance at 1.3232 (light blue dashed line), then turned downward, closing the daily candle at 1.3161. Today it may possibly continue moving upward. On Wednesday, major news is expected.

On Tuesday, the pair moved upward to the 61.8% level at 1.1593 (blue dashed line), then turned downward, closing the daily candle at 1.1569. Today it may continue its upward movement. On Wednesday, major news is expected.

The US Dollar Is in Trouble Again