empty
 
 
08.11.2015 10:36 PM
Daily analysis of GBP/USD for November 09, 2015

GBP/USD has been trading lower after the US NFP release during Friday's session as it still forming a lower low pattern on H1 chart. However, we should note there are higher chances to see another breakout lower because of the current structure. The support zone of 1.5030 is the key level during this decline and that's why we could expect some rebounds over there on a corrective basis. MACD indicator is entering the neutral territory.

This image is no longer relevant

H1 chart's resistance levels: 1.5142 / 1.5205

H1 chart's support levels: 1.5030 / 1.4932

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 at 1.5030, take profit is at 1.4932, and stop loss is at 1.5130.

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