empty
 
 
13.11.2015 11:34 AM
Technical analysis of GBP/USD for November 13, 2015
This image is no longer relevant

Overview:

  • The rGBP/USD pair is is trading in a range between 1.5258 and 1.5112 this week. In addition, the GBP/USD pair hit the weekly resistance 1 and the pivot point. As a result, the market was in an uptrend. Strong support was found at the level of 1.5098. It should be noted that the support coincides with a ratio of 11.8% Fibonacci retracement levels and represents minor support in the H1 chart. So, the level of 1.5098 acts as the key level to confirm the bullish market. For that reason, the market will probably indicate the bullish opportunity at the level of 1.5100, which will act as support. Therefore, buy above 1.5135 with the first target at 1.5260. Also, in case of a breakout, the trend is going to continue towards the level of 1.5302 in order to form the double top.

Intraday technical levels:

Date 13/11/2015

Pair: GBP/USD

  • R3: 1.5331
  • R2: 1.5288
  • R1: 1.5259
  • PP: 1.5216
  • S1: 1.5187
  • S2: 1.5144
  • S3: 1.5115
Summary
Urgency
Analytic
Mourad El Keddani
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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