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24.11.201623:51 Forex Analysis & Reviews: Daily analysis of GBP/USD for November 25, 2016

Long-term review

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The pair is still supported by the dynamic bottom offered in the 200 SMA at H1 chart, but we can see that GBP/USD struggles to break higher the 1.2451 level. If Cable manages to consolidate above it, then our short-term target of 1.2516 will be reached. However, because of Thanksgiving holidays in the United States, we cannot expect such volatile moves to take place.

H1 chart's resistance levels: 1.2451 / 1.2516

H1 chart's support levels: 1.2396 / 1.2361

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2451, take profit is at 1.2516 and stop loss is at 1.2386.

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