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GBP USD Technical Analysis November 16, 2018

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GBP USD Technical Analysis November 16, 2018

The GBP declined 1.66% against the USD on Thursday and closed at 1.2772. Today in the Europen session while preparing GBP USD technical analysis November 16, 2018 at 5:15 GMT, the GBP/USD is trading at 1.2780, which is 0.07% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2653, and a fall through could take it to the next support level of 1.2534 The pair is expected to find its first resistance at 1.2960, and a rise through could take it to the next resistance level of 1.3148. For today the expected trading range is between 1.2653, Support and 1.2960 Resistance.

The expected trend for today is Bullish

Supports Levels: Support 1: 1.2653 Support 2: 1.2534 Support 3: 1.2347
Resistance Levels: Resistance 1: 1.2960 Resistance 2: 1.3148 Resistance 3: 1.3266

GBP/USD Buying Opportunity for Intraday Trading November 16, 2018

Buy near the support area 1.2653 and 1.2534 as soon as you get reversal candlesticks using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.

GBP/USD Selling Opportunity for Intraday Trading November 16, 2018

Sell near the resistance area 1.2960 and 1.3148 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.

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