GBP/USD analysis for November 30, 2017


Recently, the GBP/USD pair has been trading upwards. According to the 30M time -frame, I found that price respected the support at the level of 1.3432. I also found oversold conditions on the stochastic oscillator, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.3497 (Fibonacci expansion 100%).If the price breaks the level of 1.3500, GBP/USD might visit the level of 1.3600 (Fibonacci expansion 161.8%)

Resistance levels:

R1: 1.3461

R2: 1.3515

R3: 1.3580

Support levels:

S1: 1.3343

S2: 1.3278

S3: 1.3225

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company -