InstaForex - Analytics

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    Daily analysis of GBP/USD for November 23, 2015

    The GBP/USD pair is trying to take another bearish breath on the H1 chart as the pair is performing a consolidation below the 200 SMA. The next target could be placed around the level of 1.5142, where is a key price zone for buyers in the short term. However, the cable could find strong support over there and it could produce another rebound towards the resistance level of 1.5296. The MACD indicator is seen at the negative territory.

    GBPUSDH1.png

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    H1 chart's resistance levels: 1.5205 / 1.5296

    H1 chart's support levels: 1.5142 / 1.5100

    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 seen at 1.5142, take profit is at 1.5100, and stop loss is at 1.5186.


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