GBP/USD was quite volatile as the results from the US elections keep
coming during Wednesday’s night. During first hours of yesterday’s
session, the pair tested the resistance level of 1.2546, but it
managed to retrace towards the 200 SMA, erasing the gains boosted by
Donald Trump’s victory. If Cable does a breakout above the 1.2482
level, then it can cling towards the 1.2546 level once again.
H1 chart’s resistance
levels: 1.2482 / 1.2546
H1 chart’s support levels:
1.2413 / 1.2335
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 1.2482, take profit is at
1.2546 and stop loss is at 1.2416.
The material has been provided by InstaForex Company – www.instaforex.com
The post Daily analysis of GBP/USD for November 10, 2016 appeared first on forex-analytics.press.