empty
 
 
11.11.2016 12:09 AM
Daily analysis of GBP/USD for November 11, 2016

The pair had a strong rally during Thursday, amid uncertainty about further policies by the new US president, Donald Trump. Across the board, GBP had its demand increased and it's now challenging the resistance level of 1.2546, where a breakout higher should open the doors to test the resistance level of 1.2637. MACD indicator is showing some signs of weakness in the current trend.

This image is no longer relevant

H1 chart's resistance levels: 1.2546 / 1.2637

H1 chart's support levels: 1.2482 / 1.2413

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 1.2546, take profit is at 1.2637 and stop loss is at 1.2455.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback