InstaForex - Analytics

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    Daily analysis of GBP/USD for November 17, 2015

    On the H1 chart, GBP/USD is still trading below the 200 SMA. The pair is looking for an opportunity to break the support zone of 1.5205 in order to test a low around the level of 1.5142. At the current stage, there is also a significant activity sellers, so we expect to see a pullback on the road. The MACD indicator is entering the neutral territory.

    1447709643_GBPUSDH1.png

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    H1 chart's resistance levels: 1.5296 / 1.5365

    H1 chart's support levels: 1.5205 / 1.5142

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is found at 1.5205, take profit is at 1.5142, and stop loss is at 1.5270.


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