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Daily analysis of GBP/USD for November 10, 2015

The pair has been recovering from last Friday's losses, and we ca see a rebound above the support level of 1.5030. This is why we expect a test of the resistance zone around the level of 1.5142 in the H1 chart. A breakout above that territory will open the door to the level of 1.5205 in coming days, because it will be trading very close to the current location of 200 SMA. The MACD indicator is still showing positive signs in this time frame.


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H1 chart's resistance levels: 1.5142 / 1.5205

H1 chart's support levels: 1.5030 / 1.4932

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; support is found at 1.5030, take profit is at 1.4932, and stop loss is at 1.5130.

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