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Daily GBP USD Technical Analysis 18th November, 2016

GBP USD Technical Analysis

GBP USD Technical Analysis 18th November, 2016

Technical Analysis Overview:

Prev. Close      1.2420

Open               1.2420

Day’s Range   1.2385 – 1.2506

52 wk Range   1.1450 – 1.5336

1-Year Return -18.53%

Technical Support and Resistance:

Daily GBP USD Technical analysis shows that GBP/USD pair may find the immediate support at 1.2407. If, market breaks the first support then it will go for the following support to test. Following supports are 1.2341 and 1.2277. On the other side the market has immediate resistance at 1.2425. If, market breaks the primary resistance level then, market will go for the new resistance level 1.2435 and 1.2469.

Expected trading range for today is between 1.2385 supports and 1.2506 resistances.