GBP/USD analysis for November 21, 2017


Recently, the GBP/USD has been trading downward. The price tested the level of 1.3209. Anyway, according to the 15M time – frame, I found a fake breakout of yesterday's low at the price of 1.3222, which is a sign that selling looks risky. I also found that price went above the pivot level (1.3233), which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3280 (pivot resistance 1) and at the price of 1.3325 (pivot resistance 2).

Resistance levels:

R1: 1.3280

R2: 1.3325

R3: 1.3374

Support levels:

S1: 1.3185

S2: 1.3140

S3: 1.3090

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -