Thursday was volatile for GBP/USD, as the UK GDP data was released
early in the European session, showing a slow improvement
post-Brexit. However, Cable erased its gains quickly and now we’re
seeing a decline towards the support level of 1.2155. If we see a
breakout below that zone, then the 1.2105 level is highly expected to
be reached.
H1 chart’s resistance
levels: 1.2229 / 1.2310
H1 chart’s support levels:
1.2155 / 1.2105
Trading recommendations for today: Based on the H1 chart,
sell (short) orders only if the GBP/USD pair breaks a bearish
candlestick; the support level is at 1.2155, take profit is at 1.2105
and stop loss is at 1.2208.
The material has been provided by InstaForex Company – www.instaforex.com
The post Daily analysis of GBP/USD for October 28, 2016 appeared first on forex-analytics.press.