GBPUSD Daily Analysis – November 4, 2016

GBPUSD broke above 1.2332 resistance and reached as high as 1.2494. Further rally is still possible and next target would be at 1.2600 area. Support is at 1.2330, only break below this level will indicate that the rally is complete, then the following downward movement could bring price back to test 1.1946 previous low support.

gbpusd chart