Daily analysis of GBP/USD for November 23, 2017

The pair stays above the 200 SMA in a sideways tone across the board, with a target still placed at the 1.3309 level, at which the bulls could gather strength in order to reach the next target at 1.3360. To the downside, if GBP/USD manages to break below the moving average, then it could found support at 1.3143.

GBPUSDH1.png

H1 chart's resistance levels: 1.3309 / 1.3360

H1 chart's support levels: 1.3143 / 1.3037

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3309, take profit is at 1.3360 and stop loss is at 1.3256.

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