Today Seoul opens the G20 Summit.
It will be held for two days. Global leaders are going to approve new rules of the game in the banking sector that involve a tougher control system and to discuss the reform of the International Monetary Fund.
The pound sterling in Forex is, in the meantime, forming a correction wave upward against the previous bearish move. The medium-term bullish trend has not changed, so this wave can become the first wave of continued appreciation of the British currency.
No news releases are expected today, the US has a day-off - Veterans Day.
Support and resistance levels
1.6383 - 200% + 76.4%1.6302 - 161.8% + FZR + Oanda's sell limits
1.6252 - 138.2% + 88.2% + pivot
1.6221 - 123.6% + 76.4%
1.6133 - current system
1.6062 - 50% + Oanda's buy limits
1.6004 - 76.4% + Oanda's buy limits
1.5952 - FZR
* FZR - Fractal-Zigzag Reversal
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