GBP/USD analysis for November 10, 2017


Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3160. According to the 30M time – frame, I found successful testing of 4 day resistance at the price of 1.3177, which is a sign that aggressive sellers entered the market. There is also a hidden bearish divergence on the moving average oscilator in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities.

Resistance levels:

R1: 1.3180

R2: 1.3213

R3: 1.3260

Support levels:

S1: 1.3100

S2: 1.3050

S3: 1.3020

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company -