UKOUSD 23 Nov 2023 on the Weekly timeframe, looks like this commodity still hasn’t managed to break S1. It is still between S1 and S2, below the 23.6 Fibo level and occupies a price position of 81,110 after being bearish in the previous session. When referring to the stochastic indicator, it appears that it has been oversold and the chart shows a reversal direction. If the trend reversal is true, then go-long could be an option. But if this commodity is unable to reverse the trend and is bearish again. Then go-short is still an option. Keep an eye on market movements and calculate all possibilities before making trading decisions.
