Daily analysis of GBP/USD for November 13, 2017

The pair is looking to break above the psychological level of 1.3200, waiting to reach the next resistance placed around 1.3309, which should be the line in the sand for GBP/USD in order to advance with the bulls' price action across the board. To the downside, if it breaks below 1.3037, then it can plummet towards the 1.2880 level.

GBPUSDH1.png

H1 chart's resistance levels: 1.3201 / 1.3309

H1 chart's support levels: 1.3037 / 1.2880

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.3037, take profit is at 1.2880 and stop loss is at 1.3193.

The material has been provided by InstaForex Company - www.instaforex.com