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CMS Daily Market Report 15th November 2022

 

As the dollar weakened last week, the pound gained more than 4% and closed above the 1.1717 range at the end of the week. Currently, according to the technical position of the price in the daily and 4-hour chart, buying in the range of 1.1676 is a low-risk option, and there is a possibility of starting a new upward wave towards the range of 1.2070 .

Currently, according to the price position in the weekly and daily charts, the range of 1.04035 is the most important leading resistance range and there is a possibility of a temporary stop of the upward movement in this range . If the price crosses this resistance range, the path will be prepared for the price increase towards the 1.06680 range.

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