FX.co ★ Daily analysis of GBP/USD for November 12, 2015

GBP/USD recovered positions during the Veterans Day in the United States, and currently we should see testing of the 200 SMA zone in the H1 chart. Over that level, we could expect a pullback towards support level of 1.5142 at least in coming days. By the way, if bulls turn out to be strong enough, we can expect a rally toward the resistance level of 1.5296.

H1 chart's resistance levels: 1.5296 / 1.5365

H1 chart's support levels: 1.5205 / 1.5142

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 seen at 1.5205, take profit is at 1.5142, and stop loss is at 1.5270.