Overview:
- The first resistance level of GBP/USD pair will set at the level of 1.5375 and the second key level will set at the 1.5310 level today. Moreover, it should be noted that the level of 1.5310 is representing the minor resistance. Additionally, the 1.5242 level is going to act as a support in the H1 chart. Equally important, the price of the GBP/USD pair is still moving between 1.5310 and 1.5242. It should be noted that a range about 70 pips is expected in coming hours. Furthermore, the trend was very clear indicating downward direction from the double top at the level of 1.6920. As a result, sell at the level of 1.5310 with the first target at 1.5242, it might resume to 1.5172 in order to test the weekly support line. On the other hand, your stop loss should be placed above the level of 1.5375. It will be helpful to set it at the level of 1.5385 today.
For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of GBP/USD for October 29, 2015 . Thanks for your support.
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