Daily analysis of GBP/USD for the month of November 01, 2017

The pair has once again is the setting of the bullish trend above the 200 SMA at H1 chart and remains stuck in a range through the board of directors. According to our projections in the short term, we expect that the pair GBP/USD has reached the resistance zone of 1.3309, which could be offered to a new test of the moving average mentioned above. If it manages to break this area, a leg of a decline in the direction of the 1.3037 level is expected.

H1 chart’s resistance levels: 1.3201 / 1.3309

H1 chart support levels: 1.3037 / 1.2870

Trading recommendations for today: Based on the chart H1, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is 1.3037, take profit is at 1.2870 and stop loss is at 1.3201.

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