Daily analysis of GBP/USD for December 26, 2017

GBP/USD still comatose around the 200 SMA and awaits for a catalyst that decides the next path in the short-term. That moving average could act as a dynamic resistance for the pair and it could help to push lower in order to strengthen the bearish path. The critical level to the downside remains at 1.3303, ahead of 1.3234.


H1 chart's resistance levels: 1.3444 / 1.3516

H1 chart's support levels: 1.3303 / 1.3234

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3444, take profit is at 1.3516 and stop loss is at 1.3372.

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