GBP/USD forecast for November 25, 2020

Looking at the chart, we see that the price has declined from 1.34000 and is consolidating below that level; we can expect the GBP/USD pair to revisit a new one around 1.33000.

Today’s statement by Ursula von der Leyen, The European Commission president, that Europe is preparing for Brexit without an agreement, which automatically affected the pound’s strength, which began to lose strength against all major currencies.
British traders expect that the volume of sales will be uniform in the year until December. With the lock across the country ending on December 2, the Distribution Trade Survey from the Confederation of British Industry showed on Tuesday.
Although sales declined in November, online sales recorded the largest growth in the last two years. The retail sales balance fell to -25 percent in November from -23 percent in October.
The balance of 55 percent said that internet sales increased in November, the fastest since October 2018. Both consumers and businesses are adjusting as best they can, as evidenced by strong online sales this month.
With encouraging progress in mass, rapid tests, and solutions for vaccines, there is a reason to increase consumer and business confidence in 2021. The dollar remains defensive and does not rule out a visit to the lowest levels in 2020, near 91.70 in the short term.
A better mood in the risk complex was further strengthened by a clearer US political scenario combined with favorable news about vaccines and better growth prospects. Moreover, hopes for additional fiscal stimulus have resurfaced, and, together with the Federal Reserve’s “lower for longer” stance, the dollar is currently under extra pressure.
This afternoon, the American session is full of strong news for the dollar. We can expect greater volatility of all pairs correlated with the dollar. We will single out Gross Domestic Product, Core Durable Goods Orders, Initial Jobless Claims, and New Home Sales. Tomorrow is Thanksgiving in America, and there will also be no news on Friday.