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24.11.201109:23 Forex Analysis & Reviews: EUR/USD Intraday Technical analysis

Long-term review

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Trading recommendations:

According to the previous events, the price of GBP/USD pair is going to move between the level of 1.6773 and 1.6840.
Hence, the range of the GBP/USD pair will be around 65 pips today.
The resistance has set at the level of 1.6866 this week.
Equally important, the support has set at 1.6765 and it should be noted that the same level is representing the weekly pivot point.
Consequently the market will indicate a bearish opportunity below 1.6866, because the level of 1.6866 is going to act as strong resistance.
Therefore, it will be a good sign to sell below this level today with the first target of 1.6765 in order to try to break the weekly pivot point in H1 chart.
Furthermore, if the trend manages to close below weekly pivot point, then the market will be continuing in downtrend below the weekly pivot point towards the level of 1.6725.

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