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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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GBP/USD analysis for November 24, 2017

analytics5a180102b5875.png

Recently, the GBP/USD has been trading upwards. The price tested the level of 1.3331. According to the 15M time - frame, I found that price broke falling wedge, which is a sign that buyers are in control. I also found an oversold stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3335 (pivot resistance 1) and at the price of 1.3362.

Resistance levels:

R1: 1.3282

R2: 1.3257

R3: 1.3225

Support levels:

S1: 1.3335

S2: 1.3362

S3: 1.3386

Trading recommendations for today: watch for potential buying opportunities.

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