GBP/USD analysis for November 15, 2017

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Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3213. According to the 15M time – frame, I found rejection from the pivot level of 1.3141, which is a sign that selling looks risky. There is also an oversold condition on the stochastic oscillator, which is another sign that selling looks risky. My advice is to watch for potential buying opportunties. The upward targets are set at the price of 1.3210 (pivot resistance 1) and at the price of 1.3255 (pivot resistance 2).

Resistance levels:

R1: 1.3211

R2: 1.3255

R3: 1.3325

Support levels:

S1: 1.3095

S2: 1.3025

S3: 1.2980

Trading recommendations for today: watch for potential buying opportunities.

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