On the H1 chart, GBP/USD has been moving with a sideways bias above the support level of 1.5100, which could witness another push higher across the 200 SMA. However, an overall trend remains bearish and we should expect more weakness next week as the cable can make a breakout below the support level of 1.5062, looking for an opportunity to test new lows below the barrier zone of 1.5000. The MACD indicator is at the negative territory.
H1 chart's resistance levels: 1.5142 / 1.5176
H1 chart's support levels: 1.5100 / 1.5062
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 found at 1.5100, take profit is at 1.5062, and stop loss is at 1.5137.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of GBP/USD for November 27, 2015 . Thanks for your support.
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