Daily analysis of GBP/USD for November 15, 2017

The pair hasn't made any significative changes in its current structure and remains consolidated below the 200 SMA at H1 chart. The next support lies at 1.3037, at which the bears are trying to gather enough momentum in order to continue with the downside, towards the 1.2880 level. MACD indicator is in the neutral territory, calling for sideways moves.


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